• How to Find Out What Your Insurance Score is

    Your Insurance Score can have a great impact on your insurance payments. An insurance score also uses a series of factors to determine your insurability and how much you will be charged for insurance. Scores range from 200 to 997, the higher number being the best. But how do you know what your score is?

    In addition to the insurance company’s in-house operations, the 3 major credit reporting companies are getting into the insurance score business as well. Equifax , Experian and TransUnion all developed insurance score services based on the FICO model and some of these companies offer insurance score reports for consumers. You can get a copy of their insurance scores once a year for $12.95 by going to the Web site ChoiceTrust.com. TransUnion offers consumer’s insurance score reports for consumers as well. Go to the TransUnion page truecredit.com/insurance to find out more. You can also ask your insurance agent for insurance score information.

    Consumers need to bear in mind that credit scores have an impact on insurance scores. Knowing your credit score can help you figure out what’s going on with your insurance score. If you have never had an insurance claim, and your insurance score is still low, it is likely due to your credit score. You can get a copy of your credit report from a number of sources including annualcreditreport.com, creditreport.com, freecreditreport.com and from the credit reporting agencies Experian, TransUnion and Equifax.