Studies have clearly showed a direct link between personal credit score and insurance loss costs. Insurers have been applying client’s credit information as one of their main property insurance rating factors. They believe it allows them to provide accurate pricing and offer the best possible price for their property insurance clients. They will not use credit to deny coverage or increase the cost of a policy. 

Consent is voluntary and may be withdrawn at any time in writing. Clients who consent to using their credit score may be eligible for an improved quote. Insurance company said credit check is done on soft hit base only and doesn’t affect on their credit history. 

More and more insurers began to use the same information for commercial insurance clients.