Ask An Agent

      

Get free insurance advice on demand

    

Question

Can freezing your credit score affect your car insurance premium?

Our car insurance recently jumped 17% on two cars. Insurance company said they don’t use FICO scores to price premiums. No tickets, no accidents on two cars, but a huge increase in 6 mos premium. We froze all our credit after the Equifax breach. Could this freeze be costing us extra $’s? We have excellent credit.

Agent Answer

Ava Lynch

It’s unlikely the freezing of your credit caused your premium to change – as freezing it doesn’t affect your score and that’s the only way your premium would adjust. Premiums, as a whole, have increased in 2018. In Washington, premiums increased by 1.6%. Companies raise their rates as a reflection of the previous year in terms of number of claims by their clients but also weather-related events. You’re not locked into your rate – so if you’re unhappy with your company, you are able to switch to a company that provides a cheaper rate. Use our calculator here to compare other companies.

Was this helpful?

1 0
  • Didn't Find What You Were Looking For?

    Ask us another question and an insurance expert will get back to you with an answer.

Looking to save money on your car insurance?

Learn More