{"id":4207,"date":"2017-05-05T00:00:00","date_gmt":"2017-05-05T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/bad-credit-can-triple-home-insurance-costs\/"},"modified":"2017-05-05T00:00:00","modified_gmt":"2017-05-05T00:00:00","slug":"bad-credit-can-triple-home-insurance-costs","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/bad-credit-can-triple-home-insurance-costs\/","title":{"rendered":"Bad Credit Can Triple Home Insurance Costs"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"47.852203647416\">\n<!--\n\n<pre>-->  \n  <div property=\"dc:description\" readability=\"43.588145896657\"><!--paging_filter--><p>Homeowners with a bad credit score can expect to pay double\u2014in some cases, even nearly triple\u2014what owners with solid credit pay for their <a href=\"https:\/\/amazingproperty.com.ng\/blog\/learn-about-homeowner-insurance-protect-your-home\/\">home insurance<\/a>, according to a new state-by-state study by insuranceQuotes.<\/p>\n\n<p>Policyholders with fair credit pay an average of 36 percent more than those with excellent credit, the study found. When a consumer&#8217;s credit is poor, premiums can more than double, increasing an average of 114 percent.<\/p>\n\n<p>\u201cMany consumers aren\u2019t even aware that, in most states, credit plays a significant role in determining how much you pay for home <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/blog\/what-us-insurance-companies-offer-the-best-workers-compensation-insurance\"   title=\"insurance\" data-wpil-keyword-link=\"linked\">insurance<\/a>,\u201d says Laura Adams, senior insurance analyst of insuranceQuotes. \u201cSo, even if you don\u2019t plan on using credit to <a href=\"https:\/\/amazingproperty.com.ng\/blog\/borrow-money-for-real-estate-investing\/\">borrow money<\/a>, it still affects your finances.\u201d<\/p>\n\n<p>Consumers in these states saw the greatest spike in home insurance premiums when their credit was poor:<\/p>\n\n<ul><li>South Dakota: 288.1%<\/li>\n\t<li>Arizona: 268.6%<\/li>\n\t<li>Oklahoma: 248%<\/li>\n\t<li>Nevada: 235.3%<\/li>\n\t<li>Oregon: 234.9%<\/li>\n<\/ul><p>On the other hand, consumers in these states saw the smallest increase:<\/p>\n\n<ul><li>North Carolina: 0.2%<\/li>\n\t<li>Florida: 25.7%<\/li>\n\t<li>New York: 29.3%<\/li>\n\t<li>Wyoming: 43.9%<\/li>\n\t<li>Hawaii: 53.1%<\/li>\n<\/ul><p>The list excludes California, Massachusetts, and Maryland, which prohibit the use of credit scores when setting home insurance rates, the authors note.<\/p>\n\n<p>View the full report to see state-by-state rankings.<\/p>\n\n<p><em>Source: insuranceQuotes\u00a0<\/em><\/p>\n<\/div>\n  \n    \n<\/pre>\n\n<\/div>\n\n\n<br \/>[ad_2]\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/bL5ioZ9xwPI\/bad-credit-can-triple-home-insurance-costs\"> link <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homeowners with a bad credit score can expect to pay double\u2014in some cases, even nearly triple\u2014what &hellip; <a title=\"Bad Credit Can Triple Home Insurance Costs\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/bad-credit-can-triple-home-insurance-costs\/\"><span class=\"screen-reader-text\">Bad Credit Can Triple Home Insurance Costs<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4208,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,12908,543,1253,9813,3051,698,1007,41,818],"class_list":["post-4207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-home","tag-home-buying-guide","tag-home-insurance","tag-home-insurance-premium","tag-homeowner","tag-insurance","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/bL5ioZ9xwPI","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3143,"url":"https:\/\/amazingproperty.com.ng\/blog\/most-consumers-are-wrong-about-home-insurance\/","url_meta":{"origin":4207,"position":0},"title":"Most Consumers Are Wrong About Home Insurance","author":"Amazing Property","date":"April 7, 2017","format":false,"excerpt":"Survey by \u00a0insurance Quotes of about 1,000 consumers shows a lot of misunderstandings when it comes to home insurance policy . Fifty-six percent of consumers recently surveyed believe that a standard homeowner\u2019s policy covers flood damage. But they\u2019re mistaken, and their assumption could be a costly mistake. Educate Yourself Would\u2026","rel":"","context":"In &quot;Insurance&quot;","block_context":{"text":"Insurance","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/insurance\/"},"img":{"alt_text":"Home Insurance","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Home-Insurance.jpg?fit=1080%2C811&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Home-Insurance.jpg?fit=1080%2C811&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Home-Insurance.jpg?fit=1080%2C811&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Home-Insurance.jpg?fit=1080%2C811&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Home-Insurance.jpg?fit=1080%2C811&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5675,"url":"https:\/\/amazingproperty.com.ng\/blog\/three-percent-or-20-percent-which-is-the-smarter-down-payment-strategy\/","url_meta":{"origin":4207,"position":1},"title":"Three Percent Or 20 Percent &#8211; Which Is The Smarter Down Payment Strategy?","author":"Amazing Property","date":"August 9, 2017","format":false,"excerpt":"The minimum down payment on an FHA loan is 3.5 percent, which makes it a popular choice among those who don't have the funds for a large down payment (and also those who don't meet the higher credit score requirements for other types of loans). And that's not even the\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/4e58098d0013bd811b1dcd079332857c_M.jpg?fit=300%2C211&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5352,"url":"https:\/\/amazingproperty.com.ng\/blog\/7-key-things-that-help-you-qualify-for-a-mortgage\/","url_meta":{"origin":4207,"position":2},"title":"7 Key Things That Help You Qualify For A Mortgage","author":"Amazing Property","date":"July 13, 2017","format":false,"excerpt":"In an environment where lenders are highly regulated and risk-averse, borrowers are rightfully a little nervous when they apply for a mortgage. 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