Does credit score affect car insurance?

+1 vote
asked Dec 30, 2018 in Insurance/Registration by sbmccue (360 points)
Does credit score affect car insurance?

1 Answer

0 votes
answered Dec 30, 2018 by Grahlu (51,270 points)
Yes your insurance rates are impacted and affected by your credit score.

The lower your credit score the higher your insurance premiums usually are and you can usually get a lower insurance premium by having a higher credit score.

Your driving record is also taken into account when deciding the rate of your insurance premiums so if you have a good driving record your auto insurance will cost less and if you have a bad driving record then your auto insurance will cost much more.

Having a good driving record and a good credit score is key to having lower auto insurance costs.

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