Last Updated on May 18, 2021
8. Credit history
According to research, lower credit scores, most particularly, those under 600 are more likely to store more claims, inflated claims, and even commit insurance fraud. It is true that this sounds a bit controversial, but unfortunately, this is how it works! So, low credit scores will automatically lead you to very high premiums.
Your credit history along with your credit rating will also influence how an insurance company allows you to pay for your auto insurance policy.According to statistics, consumers with very low credit scores are more likely to miss paying their policies.
