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How Does Your Credit Rating Affect Your Chances Of Getting Good Home Insurance Rates?

By March 14, 2012June 8th, 2020Insurance

What does your credit rating have to do with your home insurance? Well, you may find if you are shopping around for California home insurance quotes that some companies take a good credit rating into account and offer discounts on premiums. What does it mean to have a good credit rating and what do you need to do to acquire one? 

Basically, your credit rating is an analysis of your credit history. That includes everything from your loan repayment records to paying utility bills. Financial institutions often check it to gauge what kind of risk you present when you apply for finance (loans or credit cards), getting a cell phone on a plan or buying insurance.

People with good credit ratings are often perceived as people with well-organized money habits. It demonstrates a sound level of organizational skills and attention to detail, which can be translated in the minds of people to suggest that you are likely to be as organized and careful when you drive or have a house to look after. That in turn translates into the possibility that you are perhaps less likely to make many claims, as you will be vigilant in ensuring that you monitor any associated risk factors and avoid situations where you may need to claim.

Why not call one of our agents to discuss California home insurance quotes? In the event that your credit history is affecting the cost of our insurance, ask us about other ways to save on coverage.


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