Almost all insurance companies use credit information to determine how much each customer will pay for insurance. Informed customers can educate themselves about this process and pay up to 54% less for their homeowner’s and auto insurance.
What Exactly is an Insurance Credit Score?
Insurance credit scores are used by insurance companies to determine how risky a person is and how much that person will have to pay for insurance. The use of these insurance scores has made headlines in recent years because many people consider it to be controversial. As a result of this publicity most people now know that insurance companies are using credit information but there are a lot of misconceptions about this practice.