Low Credit Score May Hurt Car Insurance Rates, But Consumers Have Options
(PRWeb) July 6, 2007 -- MortgageCreditProblems.com, a primary source of mortgage lending information and bad credit mortgage loans for people with poor credit, can help people who are hurt by a bad credit rating (http://www.mortgagecreditproblems.com). Consumers are hurt by low credit scores in many ways--including, surprisingly, the cost of auto insurance -- so it's important to have the best credit rating possible.
According to the Federal Trade Commission, "Potential lenders use your credit score to help predict whether you are a good risk to repay a loan and make payments on time." People seeking a home or car loan who have a low credit score will have difficulty finding a lender. The reasoning seems logical -- although about half of all credit reports contain errors.
But a low credit score can unexpectedly affect other areas of life, too. The insurance industry has found a surprising -- but, it believes, solid -- statistical correlation between credit ratings and auto mishaps. Auto insurance companies use credit scores to determine whether to charge higher or lower rates for auto insurance. People with low credit scores pay more for auto insurance than people with higher scores because statistics suggest they may be bigger insurance risks.
Whether or not the sanctions against low credit scores are logical or fair, MortgageCreditProblems.com reminds consumers that they do have options.
? The Fair Credit Reporting Act gives consumers the right to learn their credit rating, find out how much the rating affects their insurance rates and then shop for the best loan and insurance deals.
? A number of top lenders are willing to give credit to borrowers with low credit scores.
? There are many ways for consumers to improve their credit and clean up credit scores. (http://www.mortgagecreditproblems.com/mortgages_badcredit/mortgages_badcredit1.htm)
MortgageCreditProblems.com links borrowers to willing lenders and credit counselors, and offers articles on ways to improve credit scores.
MortgageCreditProblems.com is a primary source of mortgage lending information for people with poor credit history or a low credit score. MortgageCreditProblems.com connects borrowers with bad credit to lenders that are willing to give them credit despite their credit history and also offers articles on improving credit scores, refinancing with bad credit and debt consolidation.
###
Related Articles:
Affordable Health Dental Insurance - Supplemental Dental Insurance Plan
There have been many instances whereby insurances that include dental care will fail to fully support the expenses incurred for dental care of a family These would tend to create financial problems as the family would have to spend their own money or even borrow just to cover for the expenses created by the dental care of a family member due to insufficiency of insurance coverage
Kwik-Fit Insurance First UK Car Insurance Company Offer Motor Insurance e-certificates
Online Car Insurer agrees deal with solutions company SSP to deliver fast online certificates for web users.
Easiet way to get Motorbike insurance
Motorbike Insurance is a growing market in Internet trade. As more and more providers of Bike Insurance Services go online the deals that can be made get better, and we at BikeSure are one of the premier web based providers. We can provide a high level of Motorbike Insurance and we can cover any insurance need. The Internet has made it easier than ever for riders who need to find the right policy to find it using Bike Insurance firms and brokerage sites like BikeSure.
Students Not Always Covered in Home Insurance Policy, Says Only Insurance
New research has discovered that some home insurance policies don't cover students when they move away from home.
2007 Third Quarter Auto Insurance Pricing Report from Leading Auto Insurance Agency, Insurance.com
Insurance.com, the largest online auto insurance agency in the United States, reports that car insurance rates are continuing to decrease depending on geographical location.
Car Insurance: Mini Motorbike Offences Drive Up Premiums
They are tiny bikes that reach great speeds and make a lot of noise. But police have had enough of youths creating havoc on mini-motorbikes and now have powers to seize the annoying and sometimes dangerous toys.
Motorbike Insurance Needed By Riders
Motorbike insurance provides need protection to expensive bikes or bike riders. Although some of the coverage and costs of motorbike insurance are similar to other auto plans, there are also some unique differences that affect the benefits and costs of motorbike insurance.
The Co-operative Insurance Voted Best Online Motor Insurance Provider by Your Money Awards
Leading motor insurer The Co-operative Insurance has been voted 'Best Online Motor Insurer Provider' in this years Your Money Awards.
8 Ways To Save Money On Your Motorbike Insurance
Motorbike insurance can cost you a lot of your hard earned money each year. In this article you will find out about 8 different ways you can cut the cost of your motorbike insurance. The savings you make may add up to quite a bit of money over the years so it is usually worth the effort involved. So here are the ways to save on your motorbike insurance:
All You Need To Know About Motorbike Insurance
You have just purchased your new bike and are anxious to ride it, to enjoy the freedom that only a motorcycle can give. Your new machine shines and sparkles in the garage, calling out your name, wanting to take you on the ride of a lifetime. However, you know that you must put aside, for the moment, this anticipated feeling of exhilaration: all because you have no insurance.