Auto Insurance Online Quotes

Your credit has become a factor in auto insurance because of the results of studies of millions of policyholders. The studies showed that if you had good credit you likely made fewer claims and for less amounts than if you had poor credit. So now, it's estimated over 90% of all auto insurers use credit in setting rates or deciding who to insure. And this is reflected in the auto insurance online quotes that you get.

Companies who provide auto insurance online quotes use your credit as a measure of your responsibility and don't consider your age, sex, marital status or income when judging it. Instead they look at such things as, how you've paid your bills, how long you've had credit, the number of accounts you have and whether you've had any serious financial setbacks, like a foreclosure.

The Fair Credit Reporting Act requires that companies tell you when they take an "adverse action" against you because of your credit. But since "adverse action" isn't defined by the law, companies are free to interpret it how they want to. So after you get your auto insurance online quotes, it's best to ask your insurer if, and in what way, your credit affected your premium. You also can find out how to improve it if it's necessary.