Good Credit Means Good Rates
Chances are, you don’t need another reason
to want a good credit report. Whether you’re applying
for a loan on a new car, trying to switch credit cards, or
hoping to sign a lease, your credit rating plays an important
role in your financial eligibility. Purchasing a home insurance
policy is no different.
See for yourself with a free home insurance quote >>
Insurance companies are increasingly looking at credit reports to determine rates for their customers. In most states, your insurance company must notify you if your credit rating has resulted in their offering you a higher premium. If this is the case, order a copy of your credit report (Equifax, Experian, and Trans Union will each provide your report once a year for no charge, or more frequently for a small fee) so you can verify the report’s accuracy.
To protect your credit standing, pay your bills on time, don’t carry more credit than you need, and pay off your credit card balances as quickly as possible. If your credit report contains negative, but accurate, information, only time can clean it up. Most negative information is reported for seven years. Bankruptcy information remains for ten years. The best way to avoid this problem is via prevention: Be responsible about your finances, and check your credit report once a year to verify its accuracy.
Get your home insurance quote today! >>
Home Insurance Basics is not an insurer and cannot issue home insurance policies. This site provides free information about home insurance policies and companies. The companies detailed have not endorsed or sponsored these pages. Products and services may not be available in all states.
|
