— Melissa Evans @ 1:12 am — 
September 6, 2010Many people mistakenly believe that their credit scores only affect their ability to get loans on houses and cars as well as get access to credit cards. While a credit score definitely impacts all of these things, it can also negatively influence the individual in other painful ways. For one thing, car insurance rates are determined in large part as a result of individuals’ education levels, occupations, and especially credit scores. This is because the car insurance companies decide how risky drivers will actually be as a result of their credit history.
Credit History and Its Impact on Car Insurance
It may seem hard to believe, but when car insurance companies were recently surveyed regarding credit scores and insurance rates, they admitted to a startling statistic. In excess of ninety percent of all of the car insurance firms, ninety-two percent in fact, utilize their clients’ and prospective clients’ credit information in their evaluation of all insurance policies that they both extend and even renew. This