By Elana Ashanti Jefferson

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 954-270-7966 or 833-USAssure at the office. My email is lee@myUSAssurance.com . I am Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business  & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer. My email is lee@myUSAssurance.com

Auto insurance carriers often say that an insured’s credit score is but one of the factors taken into consideration when determining that individual’s annual premium. Other factors that go into the insurance pricing decision include an insured’s age, location, vehicle, driving record and accident history.

However, a recent study by ValuePenguin.com that ranked car insurance providers by cost found that credit score looms large when it comes to premium rate hikes.

The slideshow above illustrates the most affordable auto insurance providers for drivers with poor credit, according to ValuePenguin.com.

The rankings shine a light on just how much more money people with poor credit pay for auto insurance, which is required by law in most states.

Experian, the credit reporting agency, suggests the following steps for individuals who are looking to increase their credit score:

  • Pay bills on time every month.
  • If a payment is missed, make the account current as soon as possible.
  • Decrease credit utilization by paying down credit-card debt.
  • Check credit reports often to confirm that all of the information there is accurate and up-to-date.

It also may be useful for credit-score challenged insureds to shop around for the auto insurance policy that best suits them. Many consumers may think of car insurance as a one-and-done purchase. But in reality, shopping around may help an individual save money on auto insurance, particularly when that person has less than stellar credit.

See also:https://tpc.googlesyndication.com/safeframe/1-0-35/html/container.html

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Elana Ashanti Jefferson

Elana Ashanti Jefferson

Executive Editor Elana Ashanti Jefferson is a veteran journalist and communications professional. She can be reached by sending email to ejefferson@alm.com.

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