Can Bad Credit Affect Car Insurance?

  1. 1615 POINTS
    Ryan Andrew
    President, The Andrew Agency, Richmond, VA
    It depends on the state you live in but yes there are states that use credit as a rating factor. Some insurance companies charge more for poor credit than accidents or tickets. Why? There is overwhelming data showing people with poor credit file more claims. Credit is a hot topic in the insurance industry and not everyone agrees with using credit but the bottom line, numbers don't lie so more and more companies will adapt this practice.
    Answered on July 16, 2013
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