Poor Credit Can Raise Your Homeowner’s Insurance Premiums

Poor Credit Can Raise Your Homeowner’s Insurance Premiums

Credit-based insurance appears to be playing a larger role in assessing homeowner’s premiums. The average difference in premiums between excellent and fair/poor credit has increased for the last three years in a row. Your credit score “can affect your life in terms of having everything be a little bit more expensive. So when it comes time to get insurance, maybe your insurance premiums will be… more expensive because you have a low credit score,” says Millennial Money Expert Stefanie O’Connell.