Apparently. “The study found that if you have a median credit-based insurance score, you’ll pay 24 percent more for car insurance than a driver with an excellent score. And if you have a poor credit-based insurance score, your premium nearly doubles – your rate will increase by 91 percent,” according to insuranceQuotes.com.”
Just another reason to settle your debts and improve your credit score – your auto insurance rate is tied to your credit history – at least in part. Over-paying for auto insurance can amount to a large cost over time.
Read more here: http://www.theday.com/article/20131201/BIZ02/312019950/1044