Credit may play a factor in car insurance rates

(WLNS) – Your credit score can affect all sorts of things from getting a loan to getting a job but here in Michigan it has a big impact on how much you pay for car insurance.

Research by the website Wallet Hub found that car insurance rates in Michigan can vary by as much as 122% based on your credit rating.

People with no credit pay an average of 53% more than those with excellent credit.

Farmers Insurance relied on credit checks the most with a much wider range of rates depending on credit, while Geico saw the smallest fluctuations based on credit.

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