Reader’s Question:
I heard from a friend that credit history is one of the factors that affect the rate of auto insurance. He told me that good credit history means lower premium and bad credit history means higher premium. If I don’t have a credit history would this mean I would be getting higher insurance rates in Bismarck, North Dakota?
Cameron
Bismarck, ND
Credit history is one of the factors that auto insurance companies take into consideration when setting insurance rates and/or deciding whether a driver is qualified for their insurance program or not.
It is possible that not having a credit history would mean being charge for higher car insurance premium. If you don’t have this, other insurance companies will gather additional information like your claim history and driving history to set your auto insurance premium or decide whether you meet the qualifications for their car insurance program or not.
But, if you have indeed a credit history but your insurance company failed to find it, you need to make sure that your insurer has your correct personal information like your name, birth date, address and SSN.
Check with your insurance agent in Bismarck, North Dakota about the effects of credit history on your insurance rates. Shop online to give you more choices for insurance rates.
Tags: auto insurance, car insurance online, car insurance rate
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