What is a “credit score”?
Your “credit score” (i.e., the number you can obtain from any one of the three major credit bureaus—Equifax, Experian, and TransUnion) is a number that tells financial institutions like banks and insurance, credit card, and mortgage companies, among others, whether you are likely to be late making payments based on your credit history.
Does my credit score affect my insurance premiums?
No. Your credit score is only one of many elements that go into creating an “insurance score,” which is then used by actuaries and underwriters to calculate the risk you pose for an insurance company. Despite assumptions to the contrary, consumers often benefit from the use of insurance scoring. When underwriters and actuaries use insurance scoring, they are more accurately able to predict risk of future loss, and that accuracy allows insurers to make more precise pricing decisions. In fact, insurance companies say that the use of insurance scores makes most consumers’ premiums lower, not higher.
The Russell Agency can answer your questions about how your credit score may affect your auto or homeowners’ insurance premiums.
 Source: http://insurancescores.fico.co...
 Source: https://www.naic.org/documents...