When it comes to motor insurance, there are many factors that could make or break your premiums. Gender, age, experience, car model, geographic area, neighborhood theft rate, and a million other small pieces of information are all combined together to form the ultimate assessment of every driver that “walks through the motor insurance company’s doors.” Another little known variable that could affect motor insurance for company car driver quotes is the policy owner’s credit history.
For starters, a poor credit history can affect your premiums and may even refuse coverage in many instances. A close to spotless driving record may not overlook a poor credit score because many motor insurance for company car driver companies consider those with bad credit irresponsible. They think that the better your credit score, the more likely you’re able to pay those monthly premiums on time, every time. In addition, crunched statistics on behalf of motor insurance companies for company car drivers have come to the conclusion that if you have a higher credit score, the less chances are of filing a claim. It’s all about calculating responsibility with lower risk for the motor insurance company.
If you feel your premiums are going up without any blemish to your driving record, get a free credit report or order one through the Internet to see if this is the reason. Make sure you polish up on that credit score as soon as possible. Not only will your premiums for motor insurance companies for company car drivers be improved, but your lending opportunities will as well. This means sending monthly payments on time, covering high interest credit cards first, and keeping a budget. If your credit history is limited, build it up to show your motor insurance companies for company car driver that you are capable of being responsible! All in all, credit scores are an important factor in the cost of premiums.
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