Outside of your specific policy features, one of the most important factors used to determine your premium is your insurance score, which is based on information contained in your credit report.
Your insurance score is an excellent predictor of the insurance losses you may incur in the future. If you’re a customer who’s less likely to incur insurance losses, these scores also help us reward you with lower premiums.
Some of the factors that help determine your insurance score include: long-established relationships with credit lenders, low debt balances, a low number of recently-opened accounts, and a low number of requests for higher credit limits or additional credit.
Insurance scores also take into consideration things like bankruptcies, judgments, collections, and delinquencies. And we’ll evaluate all of these variables in a very grounded, balanced way, allowing positive factors to outweigh negative ones for a solid overall rating. (These factors may vary from state to state.)
For more information about how we use your credit information, click here: http://www.allstate.com/about/credit.aspx
As you can see, a lot of different things work together to determine your premium. If you still have questions, or if you’d like to make any changes to your policy, talk to your Allstate agent or call 1-800- ALLSTATE® and one of our qualified, knowledgeable insurance representatives will be delighted to help.