October 16th, 2012

3 Reasons Not to Fret about Your Insurance Score

 

auto insurance score

We’ve talked before about what auto insurance scores are and how they’re used by insurers. But there remains some concern among Credit Karma members, and rightly so. After all, if your auto insurance score is low, you may be concerned that you’ll receive high insurance rates.

Today we’re going to put some of these fears to rest and explain three reasons why you shouldn’t fret about your auto insurance score.

But first, some basics. The auto insurance score you receive on Credit Karma is called the TransUnion Auto Insurance Risk Score. It ranges from 150 to 950 and is calculated using data from your TransUnion credit report. Now, on to a few important points…

It has nothing to do with your driving record.

Picture this: You have a pristine driving record but a poor auto insurance score. Crazy, right? Well, actually, that happens often. Since your insurance score is based solely on your credit data, it has nothing to do with your driving record. That factor doesn’t even come into play in this score. What’s more, it doesn’t even matter if you don’t have a car; you can still have an auto insurance score.

Continue Reading | 3 Comments | Twitter | |

June 19th, 2012

What’s Up With My Auto Insurance Score?

auto insurance score th

There’s a lot of confusion surrounding auto insurance scores, and it’s understandable. Why would your insurance premiums be based on your credit history, something that’s completely unrelated to your driving history? Today we'll try our best to clear up the confusion.

Continue Reading | 205 Comments | Twitter | |

November 16th, 2010

The Truth Behind Insurance Scores: Do They Really Work?

auto insurance

The next time you shop for insurance, you may be new to the fact that credit history is on hand for most insurers to use to determine how much you will pay.

In our last post on auto insurance scores, we discussed what exactly an insurance score is; this week, we’re breaking down the logic and truth behind it.

Continue Reading | 45 Comments | Twitter | |

Advertiser Disclosure: The offers that appear on this site are from third party advertisers from which Credit Karma receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). It is this compensation that enables Credit Karma to provide you with services like free access to your credit scores and free monitoring of your credit and financial accounts at no charge. Credit Karma strives to provide a wide array of offers for our members, but our offers do not represent all financial services companies or products.

Editorial Disclaimer: Content on the Credit Karma Blog is for entertainment and information purposes only. The opinions expressed on the blog are those of the authors themselves, and not necessarily Credit Karma or its affiliates. However, Credit Karma may be compensated by companies mentioned in the Credit Karma Blog through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.

Archives

Categories