Devoted to the Insurance industry and all thing related

When it comes to the process of applying for auto and homeowners insurance your credit score could be the deciding factor.  Unfortunately insurers compile their own insurance credit score based on a proprietary model they’ve created.  According to Kiplinger.com there is a difference in how insurers and lenders look at your credit score.

The director of consumer communications at TransUnion, Steven Katz, explained “insurers look a lot more closely at how you’ve managed credit over time rather than how much credit you’ve applied for recently.”  There is a relationship between low credit scores and the frequency or likelihood a person will file a claim.  The lower the score the more likely insurers will see a claim.

If you want to improve your insurance credit score you can take advantage of a service provided by TrueCredit.  According to the article “The site provides separate scores for auto and homeowners coverage, which weigh the factors a bit differently, plus advice for improving your insurance score.”