Using Your Credit Score to Keep Insurance Costs Down
As how insurance scores are calculated are as big of a mystery as how FICO scores are calculated there is not a lot you can do to manipulate the system. However the very same things you do to protect your credit score can also help you get a better calculation from an insurer –
To improve your credit scoring potential you should make sure to –
• Pay your bills on time
• Keep balances low on credit cards and lines of credit
• Avoid applying for credit you don’t need.
Don’t open new accounts until after you have been approved for your first insurance account renewed your insurance policy for the following year.
In a nutshell, using the same methods that you would use to protect your credit score, will also keep your insurance rate low.