Reply
Highlighted
Established Contributor
Posts: 716
Registered: ‎06-03-2007
0

Homeowners Insurance & Credit

An FYI-

 

I recently changed to a different homeowners insurance company, Travelers. My FICOs are all in the mid 700s.  

 

The letter I received  from Travelers said I did not qualify for the lowest rate because my credit history is too short.

 

This was interesting to me as, although I knew one's credit was a factor for rates, I did not know that length of credit history would come into play. I think it's BS, but there's nothing I can do about it.

Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Homeowners Insurance & Credit

Insurance companies have been selling this line of BS about a connection between credit and likelihood to get into an accident or have a tree fall on your house. It's the same line of BS used to try and connect credit and trustworthy employees.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.