Bad Credit Affects Insurance Policies

John Heath - Directing Attorney for Lexington LawAt one point or another in our lives we will all have to purchase an insurance policy of some sort. In most states, an insurance policy is a necessary prerequisite to drive a car or motorcycle. The prices for healthcare services are generally out of reach for most making health insurance plans a must for individuals and families. If something happens to us (death finds us prematurely), we want to make sure that our families are taken care of financially.

In recent years credit scoring has become an important facet of making a determination of whether a person qualifies for insurance and if they do qualify, how much that insurance will cost. Insurance companies collectively think that a credit score will accurately reflect a person’s responsibility in relation to driving, personal health and home ownership. For instance, in a recent statement to CBS, Donald Hanson of the National Association of Independent Insurers stated, “Research indicates that people who manage their personal finances responsibly tend to manage other important aspects of their life with that same level of responsibility and that would include being responsible behind the wheel of their car or being responsible in maintaining their home.”

While this may not be fair, it is now the reality of the insurance situation that we all must deal with. So, if you have been challenged by expensive insurance premiums or a denial of insurance because of your credit report and credit score, there are solutions that can assist you with getting to a place where you can get insurance at a reasonable rate. Responsible credit management, and the assistance of Lexington Law Firm to provide the services of a reputable credit report repair company can be helpful in assisting you to get needed insurance at reasonable rates.