Consequences of bad credit
Car insurance and bad credit don’t always mix well. If you have a poor credit history or have filed for bankruptcy, banks will likely refuse to give you a loan. This situation also has an impact on the cost of your insurance premium.
Vous devrez peut-être même faire appel à des créanciers 2e, 3e ou 4e chance au crédit.
Il existe toujours des solutions. Assurances Multi-Risques vous offre ses précieux conseils.
Subscription criteria
When you apply for auto insurance, the insurer evaluates various factors, known as underwriting criteria, to determine your eligibility. These criteria influence the cost of your auto insurance premium and may even affect whether the insurer accepts your application.
- insurance history;
- un défaut de paiement de vos primes;
- a poor driving record;
- a high frequency of complaints;
- bad credit (poor credit rating).
Request your credit score
When you take out car insurance, your insurer may ask to see your credit score. This is not a credit check and will not affect your credit rating.
A credit score is a rating between 300 and 900. It takes into account your credit history and how well you manage your debts.
For an insurer, your credit rating is a good indicator of your ability to maintain your property. Insurers therefore rely on this indicator to determine the risk you may represent.
Dans un autre article, nous explorons d’ailleurs le lien entre le coût d’une prime d’assurance et votre cote de crédit
Specialized auto insurance products
Did you know that there are insurance companies that specialize in so-called non-standard coverage? These companies offer products to customers facing difficult situations.
To drive in Quebec, you must have auto insurance. No matter your situation, there are solutions for you.
The auto insurance premium offered by specialized insurers will undoubtedly be higher than with regular auto insurance. You can get back behind the wheel with adequate insurance coverage while rebuilding your reputation with insurers. It’s always better than putting your car in storage while you improve your financial situation!
An independent broker for you
Finding non-standard auto insurance can be a complex process. An independent insurance broker can help you find the best auto insurance for you. Remember, everyone has the right to adequate auto insurance coverage!