Your credit score and your insurance payments- what’s the connection?

You’re likely not surprised when your loan officer asks for your social security number- a thorough credit check is standard when applying for a loan. However, many consumers are caught off-guard when a homeowners insurance agent asks for their social security number.  It’s widely debated, but quite commonly practiced- for an insurance carrier to use a customer’s credit score to determine their insurance premiums.

What does your credit score really mean to your potential insurance carrier?

While many businesses will use a consumer’s credit score to determine eligibility for a

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