Cheap Household Insurance — Your Credit Rating Has A Serious Impact On What You Pay
January 16th, 2010
Your credit history has a big impact on your rate and therefore determines whether you land a cheap household insurance quote or NOT. People who have excellent ratings pay far less than people who have low ratings. A bad credit rating suggests that you have not been paying your bills in a timely fashion. An insurance company interprets this to mean that you are financially irresponsible and will likely default in paying your rates. If you are considered a potential defaulter, it makes you a higher risk and attracts much higher premiums than otherwise.
It will, therefore, be a smart step to do something about improving your credit rating. You’ll attract lower premiums if you do.
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