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Car Insurance and Your Credit Score Topeka KS

Your credit score is used by car insurance companies to determine what you pay. It's important to know your score before you shop for insurance. It's easily possible that someone who has never had an accident and never filed a claim could pay up to three times as much for insurance as another similar customer with an identical vehicle โ€” because of differences in credit scores.

Allstate Auto Insurance
(888) 355-7971
2611 SW 21st St
Topeka, KS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Davis Insurance Agency
(785) 232-6347
627 Southwest Topeka Boulevard Bsmt
Topeka, KS
 
Kansas Blue Cross Blue Shield Credit Union
(785) 291-8774
1010 Southwest Tyler Street
Topeka, KS
 
Sue Zientara Ins Agy Inc - State Farm Insurance Agent
(785) 267-5090
300 Southwest 33rd Street
Topeka, KS
 
American Family Insurance
(785) 267-1741
2900 Southwest Topeka Boulevard
Topeka, KS
 
Farmers Insurance Group - Agents- GORD On Insurance Agency
(785) 273-0899
627 Southwest Topeka Boulevard Suite C
Topeka, KS
 
Wood James R Insurance
(785) 272-8331
1017 Southwest Gage Boulevard Suite B
Topeka, KS
 
Ron Cowan Insurance
(785) 233-2244
211 Sw 6th Avenue
Topeka, KS
 
State Farm
(785) 272-4820
1100 Southwest Wanamaker Road Suite 14
Topeka, KS
 
Hines- David - State Farm Insurance Agent
(785) 272-0038
1505 Southwest Fairlawn Road Ste D
Topeka, KS
 

Car Insurance and Your Credit Score

Many car insurance companies now use your credit score to determine what you pay. Why? Because they say studies show that customers with poor credit histories are more likely to be in accidents and file claims. They claim that customers with bad scores are higher risks and it's only fair that those customers pay more for their policies.

Insurance regulations in many states now allow this practice, although regulatory administrators admit they don't understand the connection between credit scores and car accident claims.

It's easily possible that someone who has never had an accident and never filed a claim could pay up to three times as much for insurance as another similar customer with an identical vehicle โ€” because of differences in credit scores.

How does it work?
Insurance companies use a secret formula to calculate a customer's "insurance score" that is not quite the same as the more familiar FICO score from credit reporting agencies such as , Transunion, and Experian. Although the score itself may be different, the end result will nearly always be the same. If a customer has a poor FICO score, he'll almost certainly have a poor insurance score.

Companies such as Allstate charge poor-credit customers as much as three times the rate for customers with excellent credit. In fact, credit history is becoming one of the major factors, if not the major factor, in determining insurance rates.

Insurance companies want ...

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