Insurance credit scores, more commonly referred to as insurance scores, are used by insurance companies to determine how risky a person is and how much that person will have to pay for their insurance. The use of these insurance scores has made headlines in recent years because many people consider their use to be very controversial. As a result of the publicity that this practice has received, most people now know that insurance companies are using credit information but there are a lot of misconceptions about this practice.
The biggest misconception that people have is that it is their credit score that is being used by the insurance companies. That is not the case. Insurance scores and traditional credit scores are very different. A credit score is a tool that a lender would use. It uses information in a persons credit report to generate a number that tells the lender how likely a customer is to successfully repay a debt if they were to be lent money. The higher the score, the less risky a person is and the more likely they are to repay a loan. An insurance score, on the other hand, is a tool that an insurance company would use to predict how likely a person...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
