Sentences with phrase «insurers factor in credit score»

Most insurers factor in credit score, the highest level of education attained, home ownership, and other factors to determine the risk of a driver getting into accidents.

Not exact matches

Insurers will look at all sorts of factors to calculate your West Hartford insurance rates, from the make and model of the car that you drive to whether or not you own multiple cars to whether you have made claims in the past (and for how much) to the strength of your credit score.

Insurers use credit scores as one of the key factors to determine what is known in their world as an insurance score.

According to Boyd, the foundation of credit - based insurance scoring has been steadily gaining traction as a rating factor since it was first introduced in the early 1990s, when FICO conducted numerous studies with insurers across the country to determine whether there is a statistical correlation between a person's credit and the likelihood he or she will file an insurance claim.

According to Lamont Boyd, insurance underwriting expert at FICO, your credit - based insurance score is derived from a combination of factors in your credit reports and is used to help insurers better determine the likelihood you will file a future claim.

According to FICO, a major company that generates credit - based insurance scores, approximately 95 % of auto insurers and 85 % of homeowners insurers use credit - based insurance scores in states where it is a legally allowed underwriting or risk classification factor.

In most states, insurers use your credit score as one of the factors in determining what's called your insurance scorIn most states, insurers use your credit score as one of the factors in determining what's called your insurance scorin determining what's called your insurance score.

In determining premiums and premium rate structures, insurers consider quantifiable factors, including location, credit scores, gender, occupation, marital status, and education level.

Many insurers factor in your credit history and credit score when determining your car insurance rate.

In today's world, auto insurers, mortgage reps, local bank branches, and even employers and landlords routinely check credit scores and factor them into decisions.

Along with various factors like your home's age, insurers in most states also consider your «credit - based insurance score.»

Your credit score is a significant factor in the car insurance quotes you receive — except in California, Hawaii and Massachusetts, which don't allow insurers to consider credit when setting rates.

In Oklahoma, many insurers use price optimization as a way to price coverage, which leverages a consumer's credit score as a factor in determining premiumIn Oklahoma, many insurers use price optimization as a way to price coverage, which leverages a consumer's credit score as a factor in determining premiumin determining premiums.

More insurers have factored credit scores into their rating models lately, especially since studies show that people with poor credit tend to get in more accidents.

Insurers in nearly all states use credit scores as a factor when determining home insurance rates.

Your insurer will not just look at your accident record, claims history, credit score, and deductible but also at factors as seemingly insignificant as the color of your car and the safety record of the neighborhood in which you garage your car.

Furthermore, what if other complicating factors in your life — a low credit score, history of making claims, bad crime statistics in your neighborhood — made insurers even more skittish about covering you?

However, you are not the average person — and your insurer will rate you according to a huge variety of factors, from things as simple as your credit score and driving / claims history to things as complicated as the color of your car and the crime statistics associated with the neighborhood in which you garage your car.

The coverage and cost can vary to a large extent amongst the insurance providers as this would depend on various factors such as the driving record of the insurer, type of vehicle, year of manufacture, the location of the client, the kind of driving that they engage in, credit scores etc..