Does Car Insurance Help You Build Credit?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIBased on my education and experience in the industry so far, having auto insurance will not help you build your credit. I do not behlieve that insurance carriers provide any information to the credit agencies directly. Contact your local agent to ask about their privacy practices to know how they are handling your personal information.Answered on November 3, 2013flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! It is a fact that many insurers will base a part of your premium cost on your credit rating and history, so it pays to have a solid score and history. In a way, your insurance can affect your credit rating, but only in the same way that any other monthly account would - do you make your payment on time and regularly. But the fact of having insurance will make no real impact at all on your credit rating, other than building good payment habits. Thank you for asking!Answered on May 12, 2014flag this answer
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