Your credit history influences various areas of your financial life. Did you know it can also affect your insurance premium?
Roughly 85% of home insurers use certain attributes of your credit score to create what is called a “credit-based insurance score” (CBI). According to the Property Casualty Insurers Association of America, studies have shown that most policy holders get a better deal when CBI scores are used to determine a premium since there is greater accuracy.
Did your insurance company use a CBI when determining your premium? Ask your representative. If you have a great credit score and are insured by a company not utilizing the CBI, you could be overpaying.
The Goines Agency is committed to providing you honest and accurate information. Contact us today to discuss your situation by calling 931-553-1969 or go to http://bit.ly/2obg7o8