Depending on where you live in Canada, some auto insurers will check your credit score and it can potentially influence the premium you pay.
The most common question after getting into an accident is, “will this affect my rates?” The easy answer is yes, accidents affect your car insurance rates. There are some situations in which one accident won’t affect your rates, but generally, just one claim will cause your rates to go...
Could my insurance rates increase if I have a history of parking tickets? Should I ignore a parking ticket assuming it won’t affect my insurance rates? Do parking tickets affect anything? Do parking tickets affect your credit score? Do unpaid parking tickets affect your insurance? Does a regi...
If you drive, you probably own a car, which means you are required by law in most places to carry auto insurance to prove financial responsibility. You likely are aware of the factors used to calculate your insurance rate: the type of car you drive, your driving record, how often you dr...
A car insurance policy is a contract between you and the provider. Typically, you can cancel a policy and have no further obligation to the provider unless you are behind in premium payments. The act of cancelling a policy has no bearing on your credit,
The guide below looks at how car finance can affect your credit score throughout the car buying process and how to minimize the impact.
While not paying your car insurance won't affect your credit, your credit could influence how much youpay for car insurance. If you have a poor credit history, insurance companies view you as more likely to file a claim in the future. As a result, your rates will be more expensive than...
car and they get into an accident, your insurance policy will likely cover the damages as if you were the driver of the vehicle. Keep in mind that if they get into an accident, it falls under your insurance policy and can affect your insurance premiums. Also, insurance companies have ...
Generally, a car accident does not affect motorcycle insurance, but a motorcycle accident could affect car insurance rates. This is an important distinction to understand as it highlights the fact that motorcycle insurance policies are considered separate from other types of policies. However, in the...
Having a good credit score is important when you want to borrow money to buy a car or a home and when you aren’t even borrowing. For example, an insurance company might look at your credit score in setting your rates; a landlord might look at it in deciding whether to rent you an ...