If you are planning to renew your insurance policy anytime
soon, it might be a good idea to check your credit report first.
In the United States, 47 out of the 50 states have allowed insurance companies to review a customer’s credit when they first apply for a new auto, renter’s, or homeowner’s policy. All 47 states except Alaska also allow the insurance companies to review the customer’s credit when they renew the policy, but that might change soon. Alaska’s Senate Labor and Commerce Committee have advanced a bill that would allow insurance companies to review credit when renewing a policy.
Should insurance companies be allowed to check a customer’s credit? It is certainly a debate worth having. For now, however, the law in most states allows them to do it, so consumers need to be aware of what is on their credit report and pro-active in correcting any mistakes. Credit report errors could result in a higher insurance premium rate, and consumers could be paying more than they need to.
Do you know what’s on your credit report? Call My Credit
Specialist today at 1-866-565-6500 or go to http://www.mycreditspecialist.com
to learn more about credit restoration and if it is the right choice for you.
You can also get daily credit tips and consumer alerts by liking My CreditSpecialist on Facebook, following My Credit Specialist on Twitter, or
subscribing to My Credit Specialist on YouTube!
Image courtesy of Stuart Miles / FreeDigitalPhotos.net
