What Is An Insurance Score?
April 1, 2013
An insurance score is based on your credit history, and it is used by insurance companies to predict the potential for future losses. The company uses your insurance score, along with a number of other factors, to determine your rate. Generally speaking, customers who have high good) insurance scores qualify for lower rates.
An insurance score includes:
- Payment History
- Bankruptcy, foreclosures and collection activity
- Lenghth of credit history
- Amount of outstanding debt in relation to credit limits
- Types of credit in use (IE: mortgages, installment loans)
- Number of new applications for credit
If you would like to see if you can lower your insurance premium with the use of your score call us (845) 883-4280.