Does my credit score affect my insurance rates?

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asked Dec 31, 2018 in Insurance by gordondk60 (260 points)
Does my credit score affect my insurance rates?

2 Answers

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answered Jan 2, 2019 by Jasire (26,200 points)
Yes your credit score is used as a decision maker in what your insurance rates will be set at.

Your credit score also effects what's known as an insurance score which is also based on your credit score.

The higher your credit score and higher your insurance score the lower your insurance rates and insurance cost will be and the lower your credit score and lower your insurance score the higher your insurance rates and costs will be.

So to get the best insurance rates and cheapest insurance whether for auto insurance, home insurance, renters insurance etc having a good credit score is essential.
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answered Jan 11, 2019 by Turnbi96 (140 points)

This is quite a valuable share. Thanks for these details. I too will be starting out financial planning. Going to hire a top certified financial planner india for a good wealth management as well as investment plan that can help us achieve retirement goals.

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