Over the past few years insurance companies providing home-owner insurance has been using a relatively new tactic to boost home insurance premiums. Many homeowners has not noticed the change. Time for a heads up!
More and more insurance companies are using CREDIT SCORES to charge a premium for home-owners insurance according to the Ontario Financial Services Commission. In fact a recent government-sponsored survey reveals some insurers are not telling consumers just how badly they will be affected based on their credit score.
Protect your credit score and shop around for your home-insurance as insurance companies are not forthcoming in telling you what kind of surcharge you might face for your home-insurance per your credit score.
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