Tip #2: Check Your Credit Score

• Why It matters: Insurance scoring has been around for over 15 years and is now used in virtually every state. Insurance carriers report that data derived from a credit report is a much better predictor of future claims costs than even a drivers motor vehicle driving record.

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• What you should do: Obviously, working towards a high FICA score will save you money in many ways beyond insurance, so listen to the experts and work on getting your scores headed on the right trajectory. In addition, if you know that your spouse has a better fica score, make sure you ask the agent to run the quotes with your spouse as the lead named insured. We have found that even if we list both husband and wife as named insureds, most insurance carriers are only ordering the insurance score on the lead named insured.

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• TIP: Most insurance carriers lock the credit factor at time of initial writing of the policy and do not re-run credit at renewals. Therefore, if you know your credit has improved, ask your agent to re-run the credit score or have them shop the policy around to multiple carriers.