Here is an excerpt from a new blog post at GreggMarcus.com:
When one comes to think about the various factors that go into determining your auto insurance policy, you usually come to think of the various aspects of the car itself or the type of coverage you wish to purchase. The factors do of course play a large part in determining your insurance premium rates as well as your driving record, recent accidents, and tickets you may have attained. While all these issues help determine your payments to a large degree, there are a number of other factors that can make an outstanding difference as well. Depending on where you reside, your credit score may be one of the most vital factors an insurance company uses to determine your rates. In this post, Long Island Insurance Executive, Gregg S. Marcus will explain all you need to know about the parallels between your auto insurance policy and your credit score.
Almost every state in the country uses your credit score to determine an insurance premium. Today there are forty-six states where auto insurance companies are permitted to look up your credit score and consider it to factor your premium rates. The four states that prohibit this practice and appliance are California, Hawaii, Massachusetts, and Maryland; though everywhere else your information is open to the companies.
To read this post in it’s entirety, click here to visit the Gregg Marcus official website.
