Does my credit score impact my auto insurance rates?
Yes, your credit score does carry some value when shopping for auto insurance, or really any personal insurance (such as homeowners insurance). Some carriers may put a little more emphasis on the score than others, but your credit score is definitely a factor in determining how much you will pay for insurance.
Credit scores are not the only factor in pricing an insurance policy. Insurance carriers use your credit score along with your claim history, driving record and other risk factors to determine how low they can offer your rate.
Don’t be discouraged if you have less than perfect credit, it doesn’t mean that you can’t get a good rate on your auto insurance. There are many discounts you may be eligible for that will offset a low credit score. As an independent agent, we can counsel you on ways we can save you money on your insurance. There are places you can cut back and places you may not want to. We will guide you through the process and identify all the discounts you are eligible for; then we will shop around with our carriers to find you the lowest available price for the coverage you need.
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Related Information
Best Ways To Save Money On Your Auto Ins
1. Drive Less for and get a discount
Some carriers will discount your premium with a low-mileage discount if you drive less than 7,500 miles per year. Also ask your agent if you can receive a commuter discount for using public transportation.
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Personal Injury Protection Coverage:
Personal Injury Protection (PIP) covers, within your limits, the medical or funeral expenses of you, passengers, or pedestrians injured in your accident. This coverage is only available in certain states, so always check with a licensed auto insurance agent.