Bad credit increase your auto insurance
Bad credit is the biggest factor in increasing your auto insurance. Bad credit can affect the price of your auto insurance premium. You may wonder “what has one thing to do with the other?” Well yes, according to a report recently published in Forbes magazine, having poor credit in the US can increase the price of an auto policy by up to 76%. Which means paying about $ 1,180 more a year.
In the particular case of Florida, having bad credit can raise the price of your auto insurance premium by up to 42% on average, the equivalent of paying over $ 1,227 annually.
The report also argues that, unlike traffic tickets, which are removed from your driving record over time and no longer affect insurance rates, having bad credit always affects the price of your premium. “The only way to fix the problem is to improve your credit rating,” he says.
Far from what anyone might think, insurers, when pricing, perceive poor credit worse than speeding tickets, even than a fine for driving under the influence of alcohol, according to the study.
This is not a call for you to drive your way and not properly follow the rules of the road, it is a call for you to pay proper attention to your credit. Bad credit is the biggest factor in increasing your auto insurance.
It is understandable that improving credit is not something that is achieved overnight. But that reality is not a condemnation for him to continue bearing the weight of an astronomical premium. If you want to pay less for your insurance, no matter what credit you have, call Univista Insurance and the insurance consultants will find a solution to lower your premium.