Yes, Progressive uses your credit score as a factor in determining your car insurance rates, as do most major insurers. However, credit checks performed by auto insurers don't harm your credit rating and are only done in states where it's legal for your credit rating to affect your rates. Your credit score will play an important role in your car insurance rates in Richmond, VA, as auto insurance companies use credit ratings to determine rates. Find the cheapest car insurance rates in Richmond, Virginia by credit score below.
Progressive has been in business for more than 85 years, and today it's a one-stop-shop for a variety of insurance products. Expensive cars, sports cars and cars with high theft rates are considered to be riskier to insure than cheaper and more practical vehicles. Keep in mind that your credit score isn't the only factor used to determine your car insurance rates. Car insurance companies mainly take into account aspects such as your age, driving history, and the make and model of your car.
With a long history in the insurance industry and a strong financial rating, Progressive has a good reputation. Add a full-time student who maintains a B average or higher to your policy, and we'll add a discount on car insurance. Your Progressive home insurance quote will be based on several factors, such as your location, claim history, and property details. Your credit history influences your credit-based insurance rating, which insurance companies use to help predict the likelihood of an accident or claim in the future.
Car insurance rates from Progressive or any other provider are influenced by several factors, some of which are within your control. The insurance rating predicts the likelihood that you will be involved in an accident or insurance claim in the future and is based on information collected from policyholders with similar credit characteristics who have had claims with us before. If you have bad credit, you'll pay more for car insurance unless you live in California, Hawaii, Massachusetts, or Michigan. Because your credit history is correlated with your likelihood of filing an insurance claim, Progressive uses your credit data to calculate your premium in states where it is legal.
Progressive offers a wide variety of discounts that can help you lower your total car insurance bill. Each insurer uses its own algorithm to calculate premiums, so even if Progressive is charging you a high premium, you may be able to find a cheaper policy with another insurer.