The connection between your safety record and your credit rating seems confusing. Many consumers feel uncomfortable about providing this information on an automobile insurance application. Insurance companies explain that credit information is necessary for a proper risk analysis when evaluating an insurance application.
They have determined that there is a connection between credit risk and safety risk. Some insurance company statistics show that drivers with bad credit file more accident claims than drivers with good credit. It seems that consumers who are careful with one aspect of their lives (e.g., financial affairs) are likely to be careful with other aspects of their lives (e.g., driving habits). Credit information is also needed to determine whether an applicant is likely to pay premiums on time. WE WORK WITH SEVERAL COMPANIES THAT DO NOT CHECK YOUR CREDIT.
