What the heck is an insurance score?

Most people have never heard of an insurance (or underwriting) score. If you're one of these people don't worry, I'll give you a good overview to explain more in this video: https://youtu.be/fGzZYXOQe5w

Insurance rates are based on a myriad of things and all these things come together to give you a score – known as your insurance or underwriting score.  It works like your credit score, which is also used in determining your insurance score, but insurance companies use it to figure out your risk profile.  One HUGE factor in that score is your financial responsibility.  This determines if you make sound financial decisions like paying your bills on time and so on.  Maintaining insurance is part of this.  A more obvious factor is your driving record showing accidents and violations.  This information helps insurance providers determine the likelihood that someone will file a claim.