What Does Credit Based Insurance Score Mean?

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What does Credit Based Insurance Score mean? Read on to discover the definition & meaning of the term Credit Based Insurance Score - to help you better understand the language used in insurance policies.

Credit Based Insurance Score

Credit Based Insurance Score

Credit based insurance scores (CBIS) are calculations that many insurers use to evaluate the risk associated with insuring potential policyholders. These scores are based on the credit history of the potential policyholders. The reason why insurers often use credit based insurance scores is because poor credit is often associated with a higher likelihood of filing insurance claims.

We hope the you have a better understanding of the meaning of Credit Based Insurance Score.

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