This Is How Your Credit Affects Your Insurance

Last Updated on May 3, 2021

But if you are dealing with a low credit score and many negative items on the credit report, then you should expect expensive premiums.

Single drivers who have good credit scores would pay ($68 to $526 per year) more than similar drivers but with high credit scores, according to Consumer Reports. If you have been involved in moving violation or an accident, then the premium will definitely rise, and having a bad credit will make it go higher.

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