In today's insurance market, you can not underestimate the effect your credit score has on your insurance rates. In Ohio, that is the state I know, almost all of the insurance companies base thier premiums, to some degree on credit. As an independent insurance agent, I also get to see how much credit is considered with some companies. Here are a few interesting facts about your credit score and your insurance:


-I write for companies that give a 40% - 55% discount on the base premium for a very good credit score.
-Insurance companies have decided to include credit since most rating is done on line and can be pulled into the factors to determine a rate.
-Different insurance comapnies look at credit differently, some weigh it as the number one factor and some only take it into consideration.
-For youthful drivers, because the parent has good credit, could save you $1000's each year because of the credit score.
-Insurance rating systems do not pull a "credit score" it is the insurance score and insurance history can influence the score as well.
-The insurance score does not show as a hit on your credit report like shoppping for an auto loan will.
-Never let you insurance lapse, even if you are canceling to buy another policy, this shows as a non-paid bill on your credit report.
I hope you find this information useful. Most consumers I speak with do not realize this is a part of their final premium rate for their auto and homeowners insurance. If you would like to know more about me or the agency I am with, go to http://www.mma4.net/, or e-mail me at alicek@mma4.net. Thank you.