Credit Scoring Insurance

[choicearizona]

In Arizona, most carriers use credit scoring. I do have one or two carriers who do not use credit in their rate factoring.

I wonder what other states do, as far as using credit scoring.

If you are an agent, does your state allow this practice. If you are a consumer, do you know if your carrier uses credit or not?

 

[maxjlone]

Insurance companies can use your credit history when you apply for new auto or home insurance. If your credit score is bad you could pay more when getting an insurance quote. And, regardless of the time you have been with your insurance company or your loss history, a low credit score could lead to a higher insurance premium or possible loss of your policy. If your insurance company relies on credit scoring, it might use your credit score to underwrite and rate your policy.