Credit Scoring for Auto Insurance

credit-score-auto-insuranceYou can’t turn on a TV or radio, read a newspaper, or click your way through the internet,; without being bombarded of stories of banks and finance companies being far less quick to loan money. After years where it seemed banks would give a large home loan to anyone with a pulse; those same institutions are under enormous pressure to limit loans to anyone preseved as being a higher–risk.

 As lenders increase the selectivness of who meets their new standards, a higher credit score has become a necessity in obtainilng credit period. What fewer people realize is the dramtic impact that your credit score can have on your Auto insurance rates.

 “Credit impacts every element of your life,” says Adam Levin, co-founder and chairman of, a consumer advocacy website. “The stronger your credit, the easier it is to get the things you want.”


Whenever you’re applying for health, life, or auto insurance, many companies will pull your credit report when you apply for insurance. Progressive, Geico, State Farm and Allstate all run your credit report prior to starting your coverage, and each of them state that they have studies that have linked poor credit with higher claims  and or a greater frequency of insurance claims. Insurance companies not wanting to lose money ; yet opporationg in a very competitive markiet place utalize credit scores as a means of selection. — if you’re score is deemed not a safe bet for them, they’ll surscarge your rates. The surcharge connected to a low credit score can be larger than the charge for Drunk driving.


While most drivers intuitively understand, and expect, that speeding tickets, driving under the influence of drugs and alcohol; or a pattern car accidents will increase their auto insurance premiums. However I think the lion’s share of Americans would  be surprised to find that a poor credit report can dramatically increase the premiums they pay for automobile insurance.
In other words, one’s credit history, can often have a greater impact on one’s rates than one’s one’s driving history,




Do you Run Credit Checks? / Do you Need my Social Security Number?


Urban insurance agency

, understands that in today’s world of “tight Money, it is critical for our customers to get every break; as a result;


No, We do not need to run your credit: therefore poor or less than perfect credit does not effect your rates. Unlike many insurance companies today we can offer you auto insurance without “Running your credit”. Since we do not put your credit report: we have no need to ask for your social security number










Skip to toolbar