Cheap Florida Car Insurance -- Ways To Enjoy Big Savings (Credit History)This one is still on the subject of attracting cheap Florida car insurance insurance rates without compromise to your coverage quality. I will take a look into an aspect that is becoming much more important to insurance companies in determining what an individual's risk level is. This in turn determines your rates...
Your credit record is a factor you can't afford to joke with. If you have something to do with people and marketing you will understand why this is an increasingly important factor with a growing number of insurance companies...
Few things show more about you than how you handle your bills. An insurance company will assume that you are more responsible and a lower risk if the records show that you pay your bills in a timely manner.
Here's what they think: Those who pay their bills in a timely manner are also more prone to be more thoughtful in other aspects of their lives -- including driving. They feel that a wrong attitudes towards financial obligations almost always means general irresponsibility -- Even when driving.
Insurers are in business to make money too and certainly wouldn't value a person who has a poor credit record. It suggests that you may also neglect your premiums or might even be declared bankrupt as a worst case scenario.
What will an insurance company do if a client goes bankrupt? That is a topic for another discourse. Our focus is how it will influence your rate.
You'll be made to pay higher rates since what you pay is a function of the risk an insurer associates with you. Some insurers may double your rate if you miss two payments on a credit card. Defaulting in your credit card payments for a certain number of times can even result in termination of your insurance contract.
So, do yourself a favor, do all you can do to have an excellent credit history (As if you didn't know you should).
A good credit history can attract savings that would be impossible otherwise. A client with an excellent record is loved by anyone in business. Insurance companies know that they are guaranteed something: You'll not default.
I have told you that your credit history can help you make some savings. If you doubt it, here's the main step in the process: Find as many Florida auto insurance quotes sites as you can and obtain quotes from each of them. From the various quotes each returns, you'll know which favors, not just you credit record, but your entire profile. If you do this properly you could save over $1000 depending on your record.
Start getting and comparing quotes. The box below is a good place to start. It's free and will take you just a few minutes...