insurance

What car insurance does and doesn't cover

How you live is as important as how you drive
Next
Slide 6 of 8
Previous
How you live is as important as how you drive

"Credit has become one of the large driving factors (in determining the price of your premium)," McMurtrie says. "Better credit typically translates to lower rates."

According to a spokesman for the National Association of Mutual Insurance Companies, most states allow insurance companies to factor credit scores into their pricing formulas. Hawaii and California are the only states that ban this practice with car insurance.

McMurtrie says other variables factor in, too. Those factors can include age, gender, marital status, how long you've been driving, how frequently you use your car, and whether the car comes with safety features such as antilock brakes and air bags.


Next
Slide 6 of 8
Previous

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
Partner Center
advertisement

Connect with us