Credit Check Resources

How do insurance companies use credit?

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We’ve collected a list of resources to help answer your questions about credit scores, credit checks, and how insurance companies us your credit score.

Credit FAQs

Question: What is a credit score?

Answer: A credit score is made of six main categories of information from your credit report.

Question: What are the six main categories that factor into a credit score?

Answer: Payment history, amount of credit you owe, utilization of credit, length of time credit established, acquisition of new credit, and types of credit established. Click here for more specific examples.

Question: What else can effect my credit score?

Answer: Bankruptcy, closed accounts, and credit inquiries can impact your score. Find out how long that can impact your score.

Question: How do I enquire about my credit score?

Answer: There are two types of inquiries. Explore more about them here.

Credit Scores & Insurance

Insurance companies will pull something called credit-based insurance scores. These scores have a different purpose and will be impacted differently. For more information on credit-based insurance scores and their impact when shopping for insurance, follow these links.

Business Credit Checks

As a business owner, it’s important to keep track of your business credit. Your business credit score can impact the mount of business credit you receive and even your business insurance premium. Visit here for more information. For more information click here.

Credit Freeze & Credit Lock

A credit freeze and credit locks both restrict access to you credit reports. Their purpose is to prevent criminals from stealing your credit history for the purpose of identity theft. If you’re a victim of fraud, you may want to do this as a precautionary measure. For more information click here.

If you have concerns about identity theft, please talk to us about identity theft insurance. Your homeowners or renters insurance policy may provide some amount of insurance, however it will be offered as an endorsement or rider as a separate option.

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