Play Safe With Your Insurance Score

A Perfect BalanceWondering what an insurance score is and how does it impact your Ohio insurance rates? An insurance score is a rating computed and made use by the insurance company to represent the probability of a client filing an insurance claim. It does have an impact on your premium rates based on the insurance company you opt for. Higher the insurance score, lower will be the premium and vice verse. Very few Ohioans manage to hold a perfect insurance score. It is rarely found to have a perfect score, however it is easy to have a good score.

Few Tips – Fetches A Good Score

Here listed are few simple things that can have a drastic effect on your insurance score.

Perfect balance: You need to play smart and have a good financial sense in order to maintain a good gap between your approved limit and actual balance on your credit limit. Try to have enough balance to lower your insurance score. With high credit limit you can improve your scores.

Use of credit cards: A card that is never used would not gain anything but a card that is made use in proper proportion can help you in good credit score. When you use the card make sure to maintain that balance well below the approved limit.

Count the cards: Make sure you hold two cards and not more than that. Having second card says that you are credit worthy and helps in improving your score. If you hold more than two credit cards and other store cards it will hit your premium rates. Just do not sign up for any card which has offer or discounts on it.

Pay bills on time: One right thing to do every time, every month is paying your bills regularly and make no lapse. It has high impact on your credit score which in-turn helps lower your insurance rates. Check for clearance on all your old bills. Even if you fail to pay a $25, in long run it might cost more.

Check for credit score: Keep an eye on your credit score and fix if any errors found immediately. Your insurance company checks and verifies your credit history, claims made and credit score much before they sign a bond with you.

Maintaining insurance score is simple. It is not easy but it is very simple. Make sure not to have any adverse action taken by your insurance company or the government, if found guilty based on the information on your credit reports.