Are car insurance rates based on a persons credit score?

+1 vote
asked Nov 24, 2017 in Insurance/Registration by dman (220 points)
Are car insurance rates based on a persons credit score?

Does a car insurance company use a persons credit score to determine a persons car insurance rates?

1 Answer

0 votes
answered Nov 25, 2017 by Judy (56,120 points)
Yes car insurance rates are determined by a persons credit score. So if you have a low credit score then you can expect to pay higher Auto Insurance rates than someone with a better credit rating.

When you buy auto insurance or get an auto insurance quote the auto insurance company will pull your credit score to determine your rates.

Other factors go into determining your auto insurance rates as well. Driving record, age and value of car, age of driver etc.

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