Did you know that in the state of New York, if one or more of your credit reports is frozen when applying for an insurance policy, you could end up with a higher quote, and, ultimately, a higher premium? That is because you would not be able to earn any discounts for having a good […]
Credit scores are used so lenders can predict how likely a borrower is to repay a loan or make payments on time. Where your credit lies will impact your insurance rates. WHY does credit score affect insurance premiums? Research shows that people with low credit scores pose more of a risk to insurance companies than those with […]
Your credit score is one of the main factors used to determine what you pay for auto insurance. Therefore, ones payments may be more than expected, depending upon how low their credit is. It may seem like an unfair determinant, since comparing the two doesn’t conclude obvious correspondence. However, the insurance industry has accumulated and […]
Credit scores are used so lenders can predict how likely a borrower is to repay a loan and/or make payments on time. Where your credit lies will impact your insurance rates. Freescore.com gives the following on what is considered “good” and “bad” credit: Good credit score: 680 and Up Average credit score: 620 to 679 […]