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Credit Score Hurting your Auto Insurance Rates?
July 23rd, 2010 by admin
There was a time when obtaining the best rates on automobile insurance simply meant making good grades in school, keeping a clean driving record, and choosing a “sensible” car. That, however, is changing as more and more automobile insurers seek insight as to potential risks stemming from an unlikely source: a low credit score. The assumption is that if an insured is not responsible enough to pay loans on time, the applicant won’t be responsible in other areas of life, such as paying insurance premiums or generally operating a vehicle. So the next time you think about missing a loan payment, be warned that doing so might cause your car insurance premiums to go up.