Your credit history impacts more than just your ability to get a loan.  It also impacts your premium you pay for many of your insurance policies.  When you request for an insurance policy, auto, home or business policy, insurance companies can use your credit history to determine your likelihood that you will file a claim.  They do not use your credit score per se but use the data from your credit history to determine an insurance score.  In all by three states (California, Hawaii, and Massachusetts), you may pay higher insurance premiums when you have credit problems. 

Also, before shopping for your insurance check your insurance score for errors.  With many carriers, one of the key ways to get the lowest premium is to get have great credit history.  According to Nerdwallet for auto insurance, “In states that allow the use of credit in setting rates, drivers with poor credit pay an average of $1270 more per year.  In North Carolina, drivers had the lowest average price difference; drivers with poor credit pay $235 more per year.”   It is important to have an agent who works with multiple carriers and can shop your insurance for the best price regardless of your driving or credit history.  Pricing can differ by carrier.  

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