Re: is a credit check required for home owners insurance

Posted by Why Chat (209.240.205.61) on December 11, 2003 at 04:50:36:

In Reply to: is a credit check required for home owners insurance posted by francee on December 11, 2003 at 03:30:51:

The reason all insurance companies (other than the more expensive "non admitted" marginal ones) pull credit has little to do with your ability to pay the premium, it has to do with the underwriting risk.

They believe, and they have statistical evidence to back it up, that poor credit risks are more likely to have covered losses.

In most cases,with a standard company, in most States, all it will mean is that your rate for your homeowners (and car) insurance will be slightly higher.

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