Increasingly, insurance companies are weighing credit histories–including late bill payments and debt balances–when assessing a consumer application or renewal and setting the associated premium. That’s because there’s a proven connection between how you’ve managed your finances over the years and how likely you are to file an insurance claim. In much the same way that lenders look over your credit scores for a loan, many insurers now review your Property and Auto "Insurance Scores" to help determine your insurability and the premiums you’ll pay. Yet most people don’t realize this practice is commonplace.

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Know The Score When It Comes To Insurance