There are lots of things that effect the prices for your insurance one of those is credit





Insurance prices are always increases. With inflation. Inflation causes many things to change but also credit score has a big influence on your price.



Like many things, real estate, car prices, job market and more. All these things over time increase. Minimum wages is always increasing as well. In most cases insurance prices increases as well. But somethings can help your price stay low and one of those is your credit score. If you have a low credit score then your monthly premiums are going to sky rocket. If your credit is good, high 700's then that will help significantly your insurance price.





People sometimes with bad credit can cause many issues down the road for your own insurance prices. If you have no credit as well this can cause serious price problems. However with lots of work and some refining your insurance rates can come out on top. This is done when we apply the same things that others have done but with more determination and practice.


Insurance has lots of factors. Accidents, tickets, prior insurance companies, whether you switch often or you stay with one company and what your credit score is. Also if you have an international drivers license as well. All can play a factor in your insurance rates and how expensive they are.



How do I lower my prices?


The more that you get insurance prices the worse your credit will be so be careful if you keep pulling your record just to find out your score. When you use a credit card, always pay that card back. Because the interest rate is expensive and it also will hurt your credit score. If you are smart you'll use your card for purchases you know you'll be able to pay back within a short amount of time like gas or a bill or two. Don't make big purchases on your card then wait years and years to pay back the $5,000 because you'll end up paying $60 a month in interest and have a higher credit score cause of the large amount of credit you owe.


Next it actually is better the more cards you have? Why? Doesn't it look like I'm just spending and spending too much? Not really. You're actually showing a lot of different places that you're dependable when you pay back all your debts. If you spend everything on one card it can be good to accumulate points with that card, however, if you want to increase your credit score after a few months if you have 5-6 cards then your credit scores are going to look really great if you dependable and paying these bills back.


Lastly, don't pull your credit too often. If your constantly pulling your credit score shopping for houses, cars and car insurance than your credit score is going to get really hit will all these credit pulls on your history and it's going to ding you. It can be 2 points per pull. If you over pull like 20 times in a year that would be 30 - to even 60 points you pulled on your credit and that makes a huge difference in price. It can be the difference of $140 a month for one car to $85/mo. for your vehicle with full coverage.


We just recommend you stay away from running your credit score too much for all these reasons.


Well, if you have any questions don't hesitate to contact use!!!


Burkholz Insurance Agency

702-625-8340

burkholzinsuranceagency@gmail.com