LAS VEGAS - nvtip -- Auto insurance companies use advanced algorithms that take into account numerous factors when determining your monthly auto insurance premium. Some things that factor into the calculation make sense, like your driving record, claims history, marital status,  age, and make/model of your vehicle. Other things, like whether you rent or own your home and your education level, aren't at all related to your driving habits, and it may seem strange that they should affect your monthly rate.

One seemingly unrelated factor that can affect your premium is your credit history. Generally speaking, a driver with an excellent credit score will pay anywhere from $68 to $526 less than someone who has a good credit score, even if their driving and claim history is identical.

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What Impacts My Credit-Based Auto Insurance Score?
Your FICO credit score is based on roughly 130 factors. However, there are only about 30 factors that your auto insurance company uses to build a proprietary score that they use when calculating your riskiness. While there are factors that cannot be used to come up with this score, like your age and your occupation, the process is otherwise shrouded in mystery.

Improving Your Credit-Based Auto Insurance Score
A big one is to always keep coverage. Don't allow any breaks in your auto insurance coverage. Try to keep your car covered for more than the absolute least amount allowed by law. If you insure yourself for more than what the state makes you carry, your rating will be more favorable to you. The score your auto insurance builds and uses is different from your FICO score, so you can't necessarily use that to guess how your credit is impacting your premium. However, just as you can improve your FICO score over time, you can also take steps to improve your credit-based auto insurance score. Focus on keeping the balance on your credit cards at around 10 percent of the credit limit, pay your bills on time, take care of any outstanding debt or judgements that you have, and report any errors on your report.

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