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Posted in Auto Insurance
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Question By
clmariano

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why is my auto ins score low..no wrecks,tkts,claims pay on time 6 months at a time

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Simply obtaining a new auto loan will reduce your insurance score. They figure that a new car requires insurance and you will use in for the slightest scratch that exceeds your deductible.

I only cosigned for my daughter's auto loan and it reduced my insurance score.

Have two loans? Double hit on the insurance score. Then your score for credit will affect your insurance score. If you don't have excellent credit in respect to other loans then you are likely to use, or even abuse, your insurance. At least that is their theory.

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