How Does My Credit Report Affect
My Insurance?

Insurance Risk Mirrors Credit Standing

Insurers view credit standing as an indication of character.

Companies, including life and automobile insurance companies, landlords and potential employers, may use your credit history to determine whether or not you are a good risk. If you’re a poor credit risk, you may also be seen as a poor insurance risk.

As a result, insurance providers might either refuse to insure you or might charge you a far higher premium than you might otherwise have had to pay.

Insurance companies are also one of the sources of information that feeds into your credit report. Others are lenders, landlords, public utilities, county clerk’s offices, the courts, and cellular phone companies. Any of these sources might have provided information that sheds light on the five components of the credit score.