The increase in your premium can be significant. And if they think that your credit isn’t up to their highest standard, they will charge you more, even if you have never had an accident, our price data show.Ĭherry-picking about 30 of almost 130 elements in a credit report, each insurer creates a proprietary score that’s very different from the FICO score you might be familiar with, so that one can’t be used to guess the other reliably. But you might not know that car insurers are also rifling through your credit files to do something completely different: to predict the odds that you’ll file a claim. Your score is used to measure your creditworthiness-the likelihood that you’ll pay back a loan or credit-card debt.
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