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Auto Insurance Michigan


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Does my credit score affect my insurance? Short answer: YES!

Love it or hate it, your credit score can have a big impact on the amount you pay for insurance - specifically home and auto.

It's controversial and the debate still continues as to whether it should be used, but for the time being that's the way it is.

So how does it work?

Now days, insurance companies typically generate their own "Insurance Score" for every individual requesting a policy quote. This score is generated using the companies own proprietary method - much of it a closely guarded company secret! A recent survey (done by Conning & Co.) showed that 92% of all insurance companies use credit information when underwriting new policies.

Companies don't look at your ACTUAL credit report (i.e. your FICO score). Instead, they receive a credit "snapshot" from one of the national reporting agencies (Experian, Equifax, and/or TransUnion), and combines that information with their own rating factors in order to determine your premium.

The idea being that there is a correlation between a consumer's financial history and his/her likelihood of future insurance related losses. Of course, not everyone agrees.

Since some companies value credit history more-so than others, it's important to consider having an independent agent that can do the shopping for you. At Kleinschmidt, we represent over 30 companies and can help you comparison shop when the time is right.

Additional Information

Have questions? We're here to help. Call Kris @ 734-662-3100 extension 27 for more information.

Note: The information in this article is designed to be a general overview of the topic. None of the information provided is to be used as a baisis for buying insurance. As always, you should talk with your agent for specific information regarding these coverages before making a buying decision.

Proudly quoting you with

Kris Hall
Who am I?

My name is Kris Hall. For years I've been insuring families all over Michigan and I'd like the opportunity to do the same for you. We live in an increasingly litigious society and having adequate coverage is more important than ever. 

                                      I take pride in helping my clients understand what they're buying, not just how much it costs. Every client benefits from having multiple companies compete for their business. 


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My agency

Located in Ann Arbor, the Kleinschmidt Insurance Agency has been serving Michigan since 1926. For three generations we've taken pride in being the most experienced agency in Ann Arbor with a longstanding history of excellence. 

Contact & Location Information

450 South Maple Rd

Ann Arbor, MI 48103


Office: 734-662-3100 x25

Cell: 734-417-4274

Fax: 734-662-5379

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