How Does Your Credit Score Affect the Cost of Your Homeowner’s Insurance Policy?

Like most other insurance policies, your credit score will definitely have an effect on the price of your home insurance. You may be thinking, “what does one have to do with the other?” Well, insurance companies view people with low credit scores as high risk because they are unpredictable, and are seemingly less responsible. It seems unfair, but it is the job of the insurance broker to decrease risk as much as possible. Therefore, credit score is one of many factors that affect your homeowner’s insurance policy.

First, your insurance agent will look into your payment history. If you have a reputation of not paying your outstanding debt, then they will stick you with higher premiums on your home insurance. They will also look into how much debt you currently have and consider that as well. The amount of time you have possessed a line of credit, how many times you have pursued new credit, and the different types of credit you have owned will all come into play as well.

At Insurance Navy in Palos Hills, we provide the best and cheapest homeowner’s insurance in Illinois. If you own a home in or around the city of Chicago, the Insurance Navy agents will help you find an affordable home insurance policy that fits your needs. To learn more about our low-cost homeowner’s insurance policies, please visit our website:

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Would you like additional information about home maintenance or insurance? Our customer service team is here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week. Insurance Navy also has a strong presence on social media. Give us a like or follow on TwitterFacebookInstagram, or even Pinterest. That way, we can keep you updated on helpful vehicle tips, important news and much more. 

If you’d like to take a look at more home insurance blogs, we have a bevy of them on our website. Consider taking a peek at these before you leave:

A Guide To Flammable Objects In Your Home You May Not Be Aware Of

Maintaining a Garage Door Opener

Firestarter: 8 Important Portable Heater Safety Tips