How To Get Homeowners Insurance With Bad Credit?
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Credit can be and usually is a factor used when a company developes premium for Homeowners Insurance products, but it is not the only factor. Prior losses for which you may have filed claims at previous residential properties, the condition of your current home, proximity to fire stations and hydrants or other water sources and other factors are also a consideration. Unfavoirable credit, in and of itself, would probably not keep you from obtaining coverage, though it may cause you to pay more. If you do have trouble, for whatever reason, then talk with your Insurance Professional. In Connecticut, and I suspect in most states, there are state programs that are specifically in existence to provide some coverage when one 's property does not meet the standard market underwriting rules.Answered on April 24, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! It isn't a secret anymore that insurance companies base a part of their rates upon your credit history and rating. That said, most of them will still give you a policy, but it will get progressively more expensive the worse your credit is. The bright side? Often we think our credit is worse than it really is, and that businesses don't see us as badly as we see ourselves. My advice is to shop around, and find an independent agent who can help you find a policy that is affordable, and fits your needs. Good luck! Thanks for asking!Answered on April 25, 2014flag this answer
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