Warning: Creating default object from empty value in /home3/inspo77/public_html/wp-includes/ms-load.php on line 113
Homeowner’s Insurance Costs Nearly Twice as Much with Poor Credit

Homeowner’s Insurance Costs Nearly Twice as Much with Poor Credit

Homeowner’s Insurance Costs Nearly Twice as Much with Poor Credit
News from Insurance News Net:

SAN FRANCISCO, Aug. 14, 2014 /PRNewswire/ –¬†Homeowners with poor credit pay 91% more for homeowner’s insurance than people with excellent credit, according to insuranceQuotes.com. Homeowners with median credit pay 29% more than those with excellent credit.

People with poor credit pay at least twice as much as people with excellent credit in 37 states and Washington, D.C.West Virginia’s 208% increase is the highest in the nation, followed by Virginia (186%), Ohio (185%) and Washington, D.C. (182%).

The greatest differences between excellent and median credit were observed in Montana (65%), Washington, D.C. (60%) and Arizona (55%).

“This is another example of why credit is such an important part of your financial life,” said Laura Adams, senior analyst, insuranceQuotes.com. “Maintaining a good credit history suggests that you’re a less risky customer and can lead to several hundred dollars in annual homeowner’s insurance savings.”

Three states prohibit insurers from using credit to calculate homeowner’s insurance premiums: California, Massachusetts and Maryland. And in Florida, while insur…………… continues on Insurance News Net

… Read the full article


Related News: