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5 Ways to Improve Your Credit Score and Reduce Your Mesquite Car Insurance Premium


TexasMany people don't realize the impact their credit score has on their car insurance. Consumer Reports indicates that the average difference paid towards auto insurance by an individual with a good credit score versus someone with the best credit score is $214. Those who have a poor credit score are most likely to pay more for insurance.

Why Your Credit Score Matters to Insurers

Credit scores provide insight to car insurance companies about the odds that you'll file a claim. Individuals who have a poor credit score are more likely to file a claim than those that have a high score, research indicates. Even if you have never filed a claim, you may be impacted by this type of study if your credit score isn't as good as it could be.

How to Improve Your Credit Score

To avoid paying more for the same coverage, you can work to improve your credit score on an ongoing basis. To do this, consider these tips:

  1. Make payments on your debts, utilities and loans on time or early every month. Late payments are one of the most common and most severe negative components to credit scoring.

  2. Use credit, but don't overuse it. Keep your use as far under the credit card limit as possible. By reducing your credit line usage to no more than 30 percent, you can boost your credit score.

  3. Avoid opening too many loans or lines of credit in a short amount of time. This indicates you may be desperate for credit and may cause your score to drop.

  4. Utilize various types of credit. If you don't have any credit, open a small secured credit line. Use store credit and secured loans, such as those on a home or car, to boost your credit score.

  5. Pay more than your minimum payment each month. This can also help improve your score.

The laws about credit score usage by car insurance companies range by each state. If you are unsure if your score is in good standing, there are free services that can help you determine your score. Making small adjustments like this can save you money both on your Mesquite auto insurance and on your debt.

Get a free Mesquite car insurance quote today. Call us at (888) 888-0972 for more information.

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