Insurance Score Vs Credit Score

     My clients are very savvy, they know all about keeping their credit scores up.  One of the most simple ways to manage your score is to limit the hits on your credit.  This means limiting your applications for credit cards, mortgages and auto loans.  These types of credit-hits will bring your score down, however getting your insurance score only does a soft-hit on your credit and will not affect your score!
     The insurance score is used determine a customer's individual rate and is built on several different factors like claim and credit history and may be used to underwrite and price your premiums.  Insurance scores range from 1-32, with 1 being the best score- giving you the lowest rates.  It is true that the wife might be able to get a better rate than the husband and vice-versa, so it is important to know who has the better credit to get the best rate for your home!
     If you have recently changed addresses then your social-security number and previous address may be needed to get your insurance score but again, it will not budge your credit score, which is great for first-time home buyers getting a mortgage.  Your lender may advise you not to give your social out under any circumstances until the loan closes but when it comes to getting insurance it is OK!  If you have more questions about insurance-scores and rates in your area call me at 877-50-MyHome ext 8481.