Preheader

 

Get A Quote About Contact Home Page
 


Auto Home Business Life

It's no secret; having a good credit score has many benefits. It can help you get approved for loan and get lower interest rates, but there's even more. News 13's Jeff Platt shows us an unexpected way good credit can save you big money.

Homeowners and homebuyers alike have a lot to worry about; making mortgage payments, keeping the house clean and the yard trimmed, and on top of that they need to buy insurance.

Cheryl Gillum, direct at the Wyoming Community Development Authority said, "All of WCDA's loans require that a homebuyer have homeowners insurance and that's part of their house payment."

For those financing homes the cost of an insurance policy could be high, but if all of their other accounts are squared away... It's the policy buyer who gets the break.

Des Bennion, The Bon Insurance Agency said, "Insurance companies can't really go against you for bad credit, but we can give discounts for good credit."

Good credit shows companies a person can be trusted with financial obligations, but building a solid credit score can take quite some time. So the sooner you start using a credit card, the less you'll have to pay to protect a house and the reward for having a high credit score isn't just a few bucks.

Bennion said, "They can be extremely enormous. Probably the biggest one that I've seen was a difference of about 600 dollars on an annual premium."

On the other side of the coin having poor credit doesn't only result in higher premiums; the cost can be even greater.

Bennion said, "Sometimes even worse than that we've had a few clients sadly that the home policy cancels and then there's a loss."

Bottom line when you pay your bills on time you come out smelling like roses.

Although Bennion emphasizes the importance of building credit early in life. He also says it's important to never use a credit card to buy anything you can't afford.

Read More: Source

Posted 11:00 AM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
View Our Latest Insurance News
more...
  Coverage
Home
About Us
Get A Quote
Customer Service
Contact Us
Auto Insurance
Home Insurance
Life Insurance
Business Insurance
Other Insurance Types...
Mailing Address
80 Main Rd
Tiverton, RI 02878
Contact Us
Ph: 401.624.8477
Fx: 401.624.2281
info@interstate-ins.com
How Can We Help You?
or call us at
401.624.8477
Get A Quote My Policy Request a Certificate Facebook Twitter Linkedin Blog RSS Feed Blog RSS Feed Insurance Website Builder Google Plus Facebook Twitter LinkedIn YouTube Blog RSS Google Plus