What’s An Insurance Score?

May 6, 2019

Recently we’ve had several of our clients ask us something like “what does my credit have to do with my insurance?”  We’re glad you ask!  Here’s the answer:

In this day and age, most major insurance companies are relying on years and years of data that point to how likely you are to be a safe driver.  One thing that these companies have found is that if you take care of your money, you are more likely to take good care of other things like your home and car…and you’re less likely to have a claim!

The companies we represent at the Davis Insurance Group take a “peek” at your credit profile (sometimes referred to as a “soft hit”).  If your credit is good, you get a better insurance rate!  The good news is, with most companies, if your credit takes a dive, then you won’t necessarily see an increase in your insurance prices…your credit can only help your insurance price once you start your policy.

Want to read more?  Check out this article from one of our major carriers.

Want to check out your credit score?  We recommend sites like Credit Karma, or Turbo (from Intuit – the makers of TurboTax).  You can also access you entire credit report from all 3 credit reporting agencies once a year at www.annualcreditreport.com

We hope this is helpful.  If you’d like to learn more, please contact one of our agents in Westover, Morgantown, Weston, or Hopwood.