It seems credit scores are influencing every aspect of our lives. What’s common between credit ratings and driving? You may not realize it, but insurers make a big deal out of it. Shopping for cheap car insurance for bad credit has become top priority for drivers. Insurers refer your credit-based insurance score to determine premiums. It warns them about odds of you making a claim. Except for three states, insurers quote higher premiums for applicants with a poor car insurance credit report than what they do for other drivers.
It seems credit scores are influencing every aspect of our lives. What’s common between credit ratings and driving? You may not realize it, but insurers make a big deal out of it. Shopping for cheap car insurance for bad credit has become top priority for drivers. Insurers refer your credit-based insurance score to determine premiums. It warns them about odds of you making a claim. Except for three states, insurers quote higher premiums for applicants with a poor car insurance credit report than what they do for other drivers.
Drivers with poor credit score and car insurance pay $275/year more than those with good credit in Wyoming do and pay as high as $2000/year more in Michigan. The national Average increase among states is $690/year for drivers with poor credit over those with good credit! This clearly shows how much poor credit can influence your car insurance rates.
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