One thing you should remember is your credit-based insurance score is different from your credit score. Your credit score is used to determine your likelihood or capacity to repay loans. Meanwhile, your credit-based insurance score is used to gauge your premium by evaluating your odds of filing a claim. The National Association of Insurance Commissioners (NAIC) broke down credit scoring company FICO’s evaluation criteria for a credit-based insurance score as: Payment history (40%) Outstanding debt (30%) Credit history length (15%) Pursuit of new credit (10%) Credit mix (5%) Some states don’t legally allow the use of credit-based insurance scores as the sole basis for underwriting. In Colorado, your credit-based insurance score can help reduce your premium—but a poor score can increase it by as much as 76%. If you need help figuring out how much your score can affect your premium, send us an email or give us a call.