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Car Insurance In Missouri

Car Insurance In Missouri

Car Insurance In Missouri

If you own a car or are looking to buy one and need Car Insurance In Missouri, you may have, at one point, wondered what options you have for auto-insurance and how much it’s going to cost you. There are a number of factors that determine the amount of car insurance premium you pay. Often overlooked is the health of one’s credit. In fact, one study by InsuranceQuotes revealed that people with bad credit could end up paying up to 36 percent more in insurance premiums.

Car Insurance In Missouri Rates Effected By Credit Score 

Just like lenders, auto-insurance companies are now increasingly starting to consider credit history – in addition to the standard factors such as age, driving experience, geographical location, use of vehicle, and claims history – when calculating car insurance premiums. More than 90 percent of insurers have already adopted this approach.

Unlike lenders, however, insurers use a different scoring from the FICO credit score known as “credit-based insurance score.” It uses particular aspects of your credit report with the view to assessing your likelihood of defaulting on insurance and suffering risk. A number of states allow insurers to do this, and Missouri happens to be one of them, thus underscoring the importance of credit repair.

Credit repair is a strategy that companies such as Credit Repair Goat, use to fix poor credit by identifying and disputing erroneous and unverifiable items on credit reports provided by major credit bureaus.

Credit Health vs. Vehicle Ownership in Missouri

Governing: The Future of States and Localities’ is a robust information platform that publishes statistics and research often used by public officials. According to recent data on this platform, households without vehicles in the following Missouri cities were as follows:

  • Louis – 18.5%
  • Kansas City – 11.3%
  • Columbia – 5.5%

It is evident that an overwhelming majority of households in these cities have at least one vehicle. However, the debt outlook of Missourians is not very promising.

According to Experian’s 2017 State of Credit Study, the average credit (FICO) score in the State of Missouri stood at 674. The state also has an average credit card debt of $5,897, which is higher than the national average of $5,331. This means that a significant number of people in Missouri are likely to default on their auto-insurance payments and possibly get charged higher rates on other insurance policies.

Fix Your Credit Score with Credit Repair Goat

If you’re seeking services for credit repair in Missouri, look no further than Credit Repair Goat. We primarily offer credit repair in St. Louis, Columbia, and Kansas City. We also do offer nationwide services – all at very affordable prices. We help our clients understand the importance of maintaining good credit scores and furnish them with helpful resources to do just that. Visit our website, www.creditrepairgoat.com, for more information about our services for credit repair in Columbia, Kansas City, and Missouri. You can also contact us via 573-488-4628 or support@creditrepairgoat.com to schedule an appointment or visit our offices at 303 N Stadium Blvd 2nd Fl Columbia, MO 65202.  We look forward to helping you fix your credit score.

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  1. Pingback: Credit Repair Kansas City - Reasons You May Need It | Credit Repair Goat

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