GARY NORTH'S TIP OF THE WEEK
Your car insurance premium is
affected by your credit score.
The insurance companies are based on statistics. The companies are always looking for hidden statistical relationships.
They have discovered that people with high FICO scores are less likely to file claims. So, they charge less to these clients, i.e., they offer discounts.
Different states have different discount rates for people with high credit scores. There is a map that tells you how hard low-score drivers are hit in each state.
http://www.garynorth.com/snip/1243.htm
This is another reason for getting up your credit score. I have dealt with strategies to do this in a recent tip.
http://www.garynorth.com/public/15457.cfm
Work on this.
Gary "FICO Fanatic" North
The insurance companies are based on statistics. The companies are always looking for hidden statistical relationships.
They have discovered that people with high FICO scores are less likely to file claims. So, they charge less to these clients, i.e., they offer discounts.
Different states have different discount rates for people with high credit scores. There is a map that tells you how hard low-score drivers are hit in each state.
http://www.garynorth.com/snip/1243.htm
This is another reason for getting up your credit score. I have dealt with strategies to do this in a recent tip.
http://www.garynorth.com/public/15457.cfm
Work on this.
Gary "FICO Fanatic" North
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