Can insurance companies increase premium due to a dip in credit score?
Date: Sun, 10/25/2020 - 19:24
Can my insurance premiums increase suddenly due to a dip in my credit score? It is it just coincidence?
Your insurance premium may
Your insurance premium may increase due to a drop in your credit score at the time of your renewal. However, if the insurance company decides to increase your premium rate or cancel your coverage due to your low credit score, then they have to send you an adverse action notice. The FCRA mandates that.