Question

The use of insurance credit scoring is more common with the sale of homeowner's insurance coverage than it is with automobile insurance coverage. Question 2 options: True False

Answer 1

True.

Your credit score plays an important role in the homeowner's insurance premium you pay once you purchase a home. That's because insurance companies use information in your credit report to calculate an insurance score.

A higher credit score decreases your car insurance rate, often significantly, with almost every company and in most states. Getting a quote, however, does not affect your credit. Your credit score is a key part of determining the rate you pay for car insurance.

Although some insurance companies still look at your actual credit report, most insurance companies using credit information are using a “credit score.” A credit score is a snapshot of your credit at one point in time.

Learn more about homeowner's insurance coverage at

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