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Credit Rating

Checking your credit report has become a popular variable in determining your overall auto insurance rate for many major insurance companies. Late payments and loan defaults can now increase your insurance premium. A healthy credit report can ensure a lower rate.

Don’t have a healthy report? Since a lot of companies are checking your credit and basing your premium on what is found. Make sure you check to see if your credit is in good shape before you shop. If you have a problem, you may want to seek out companies who do not do credit checks.

Fair Credit Reporting Act - http://www.ftc.gov/os/statutes/fcra
Under the Fair Credit Reporting Act (FCRA), consumers have the legal right to obtain a free credit report if an "adverse action" has been taken as a result of a credit report or score. The act was passed to hold credit reporting agencies accountable to standards of confidentiality, accuracy and proper use of credit information.