The Shocking Truth About Insurance Companies And Your Credit Score

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What is the most mportant factor when it comes to issuing automobile insurance?

Well, most people would probably say that the most important factor is your past driving record. However, that is not completely true.

Insurance companies will take into consideration your past driving record but it is not one of the top three factors. The top three factors are credit scores, where you drive and your age and gender (with the exception of California, where using credit scores for insurance purposes is prohibited).

Apparently the insurance companies have found a correlation between low credit scores and the propensity to file claims.

Driving records are still in the top ten factors but credit scores are more crucial.

Yep, bad drivers may be a danger to society and a hazard on the roadways but those people who might file a claim are the ones that the insurance companies would really like to avoid. After all, what could be more important than profits?

See the entire story at MSN money.

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