Norwalk, CT (PRWEB) October 11, 2010
FreeScore.com announced today that it is now providing its members Auto and Home Insurance Scores, making it the one of the only online credit score sites to offer this feature. Since its inception, FreeScore.com has provided consumers with affordable and unlimited access to all three of their credit scores and complete credit profile.
According to the Federal Trade Commission, insurance and auto companies will use consumer credit information, along with other factors, to help predict the likelihood of an individual filing an insurance claim and to predict the amount of the claim. The score is based on credit score factors like bill-paying history, the number and type of accounts, promptness of paying, collection actions, outstanding debt, and more.
The FreeScore.com Auto and Home Insurance Score feature provides consumers with the same tool used by insurers. Their two insurance scores are compiled by applying a mathematical formula to the data from their TransUnion credit report. A risky consumer credit history will lower their two insurance scores.
According to Carrie Coghill, Director of Consumer Education for FreeScore.com, "Insurance companies are using these auto and insurance scores to decide whether to approve you for a policy and on what terms. FreeScore.com's exclusive Auto and Home Insurance Score feature allows members to see exactly what Auto and Home insurers are seeing, and to see how their credit scores affect the amount they pay for insurance. This knowledge can help consumers negotiate premiums or take corrective action."
FreeScore.com is the leading online consumer credit site, providing consumers with affordable, unlimited access to all three of their credit scores and complete credit profile. Launched in 2009 with an award-winning advertising campaign featuring actor, economist, and lawyer, Ben Stein, FreeScore.com has serviced more than 750,000 members. Members have unlimited access to their credit scores from all three bureaus, a complete credit profile, and expert tips, articles, videos and other educational information about credit management. For more information, go to FreeScore.com.
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