Yes, Your Credit Rating can Affect Your Insurance Rates!!

You probably know that lenders use information in your credit report to determine if they'll give you credit. But did you know that in some states, insurance companies also consider your credit history? Good or bad, your credit history may affect your ability to purchase or coverage and help determine what premium you'll pay.

• Two years ago, you were unemployed for six months. Before you could find a new job, you fell behind on several credit card payments. Now your auto insurance rates are going up, even though you've never filed a claim against your policy.
• You've always paid your bills on time, and you've always paid cash instead of applying for credit. Why could this be a problem? Similar to when you apply for a mortgage or credit card, your lack of credit history means you’re an unknown quantity – there is no history of monthly credit card payments.

Many people believe that only their driving record is important, but that’s simply not the case. The majority of The is a test module