What is homeowners insurance credit?
Insurance companies today will run your credit report when calculating your premium for homeowners insurance? Thats why its so important that you understand your credit score and how to improve it.
Homeowners Insurance Credit is more important than ever to make a smart and informed decision about ones financial and homeowners insurance needs. The credit is merely a combine homeowners insurance coverage. Companies credit ones home owner insurance by as much as 10% for insuring both your auto and home.
In most cases your house is your largest asset. The price of the policy and the coverages provided can vary greatly depending on the type of house, the type of roof, your credit score, the age of the house and many other things.
Most people know that paying bills on time is very important to keep a good credit score, but understand that is 35% of your score not 100%. Your credit score also consists of length of credit history, amounts owed, new credit and types of credit used.
If you are applying for homeowners insurance, you might want to pay off any credit card balances first. Don’t close or open new credit accounts before having your credit score issued. And finally be sure to get a copy of your credit report atleast annually to make sure that everything is accurate