Car Insurance: Your Credit Score Matters | Connecticut Watchdog

by George Gombossy

Guess which has more impact on your auto insurance rates: your driving or your credit record?

Those of you who understand these types of trick questions know that you go for counterintuitive answer. And you would be right. Its your credit record that counts more.

Doesn’t seem fair, but those fun-loving insurance number crunchers have figured out that how one manages their finances tells them more about their potential future claims than their driving history.

Why? Well one could be real lucky and never get into an accident or get a speeding ticket and still be a reckless driver.

However, if one doesn’t care about their personal finances then what does that say about how careful they are in general about life?

The Wall Street Journal’s outstanding reporter, Karen Blumenthal, wrote an excellent piece this week in my favorite section – Personal Journal – on exactly that topic and that by shopping around you will discover that there is a lot of competition for your business.

While you are at it, if you don’t get the WSJ, get it. And if you can’t afford it, at least sign up for the WSJ on line. With all due respect to the NY Times – which is a GREAT paper and an institution that must survive – the WSJ is filled every day with information you MUST know.

Source: Car Insurance: Your Credit Score Matters | Connecticut Watchdog