Do credit scores affect premiums?

Yes they do. According to regulatory associations, there is a direct correlation between credit scores and individuals getting into accidents, and cancellation policies due to non-payment. Therefore, premiums are higher for lower credit scores.

Other Factors:In addition to Insurance Scores, there are other, more obvious factors used to determine your final rate including:

Where you live,
Year-Make and Model of Car
Driving Record
Claims History
Age and Sex, etc.

Your agent and insurance company aren't going to see specific information detailing what you owe or to whom, but they are going to see a version of your credit score and it significantly impacts how much you pay for insurance. Being responsible with credit will reward you with lower insurance costs!

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Factors That Affect Car Insurance Rates

You may not realize it, but your overall rate is also affected by many more different factors – some of which you can control, and many of which you cannot. However, knowing what affects your rate can help you make a more informed decision when purchasing insurance, and can help you know exactly what to do to lower your expenses. Demographic Factors Your gender, age, marital status, geographical location, and credit score all affect your insurance rates in different ways. 1. Gender and Age Young men usually incur higher rates than young women as statistically, more male teenagers have accidents than female teenagers. However, older men generally have better rates than older women. Some evidence suggests that older women are in more minor accidents than older men – though the difference in premium costs usually isn’t drastic. 2. Marital Status Married people tend to have fewer accidents than single people; therefore, getting married (especially for men) can significantly ...

Business Liability Insurance

It’s a simple reality that anyone who comes into contact with you or your employees while you’re conducting business can file a claim or lawsuit against you for any number of reasons — from physical injuries to wrongful termination. That’s why Farmers® offers small business liability insurance, which can help with challenging situations and the associated costs of legal defense and legal damages, up to policy limits selected for covered claims. Because I am also a small business owner, I have an understanding of some challenges faced by small businesses like yours. I can offer insights and discuss insurance options as you choose customizable coverage options for your company. Give me a call to save money on your Business Insurance . Some of our Commercial insurance coverages include Business Owners Policy (BOP) , Commercial Auto , Commercial Property , Contractors , and General Liability .

Affinity Discounts

Everything’s Bigger in Texas…Especially Farmers’ Smart Insurance Discounts If you’re employed or retired from an approved occupational group (e.g., Accountants, Educators, Engineers, Firefighters, Military, Law Enforcement, Medical Professionals, etc.), you may be eligible for this discount. Contact us at (210)722-8220 or mmetzger@farmersagent.com to see if you qualify.

Farmers Insurance - Matt Metzger

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