Not exact matches
Talk about how building good
credit can help them save
on car insurance premiums, cell phone plans, mortgages and auto loans for years to come.
Credit will universally be denied, and you will be paying a major
premium on things like
car insurance.
A higher
credit score will mean not only lower
premiums on car insurance, but also better rates
on home and auto loans, and access to a better class of
credit cards.
But a new analysis by Consumer Reports finds that your
car insurance premiums are increasingly based
on factors such as your
credit score that are unrelated to your driving record.
Some drivers with negative marks
on their
credit reports might be looking for no -
credit check
car insurance, where their bad
credit score won't count against them in calculating
premiums.
If the mainstream auto
insurance company that manages your policy is charging you huge
premiums based
on your
credit score, no -
credit check
car insurance could be the way to go.
On the other hand, consumers feel this is unjust, and with the current economic crisis, more and more drivers should see an unfair hike in their
car insurance premium as their
credit scores deteriorate.
First, the bad news: Your
car insurance premiums, like your cell phone payment and other monthly bills, don't show up
on your
credit report.
Having a good
credit score will also help you receive a lower
premium rate
on your Medford
car insurance.
These days, almost all
car insurance companies will base
car insurance premiums on your
credit score and how you manage your debt.
Car insurance premiums are calculated based on your driving history, the type of car that you drive, your credit history and even your marital stat
Car insurance premiums are calculated based
on your driving history, the type of
car that you drive, your credit history and even your marital stat
car that you drive, your
credit history and even your marital status.
You can also save money
on car insurance by paying your annual
premium all at once, increasing your deductible amount, improving your
credit rating, and driving vehicles with permanently installed safety features, for instance.
We all know that factors affecting your
car insurance premium rates include your age, your gender, your
credit score, your driving history, and the state, city, and zip code in which you live, but it may surprise you to learn that your job, not to mention your membership in certain organizations, can also have an affect
on your
car insurance premium rates.
That seems strange at first glance, but research has shown that using
credit information to set prices has had a positive effect
on claims and so the better your
credit score, and the more positive your
credit history, the better your
premium for
car insurance is apt to be.
A good
credit report can have such a large impact
on your
insurance premium that you can, for example, have a flawed driving record but good
credit and pay less for your
car insurance than a driver who has a perfect driving record but bad
credit.
Many motorists are unaware of the fact that in recent years one's
credit score and
credit history has become an increasingly important factor in the
insurance premiums you will pay
on your Ohio
car coverage.