Credit Report Use by Missouri Homeowners
| Name of company | Does it use credit? | If so, how is it used? |
|---|---|---|
| State Farm (NAIC No. 25143) | Yes | State Farm does not use "credit scoring"; it uses a combination of prior claim information and credit characteristics to calculate a homeowners' insurance risk score. This score is used, along with other factors, to help determine if a new applicant is eligible and the policy premium. Currently, State Farm uses consumer credit information to underwrite and rate a new homeowners' policy; we do not obtain new consumer credit information for renewing policies. |
| American Family Mutual Insurance Co. (NAIC No. 19275) | Yes | Credit scoring is used as part of the rating process to help determine the price customers pay for their insurance coverage. |
| Shelter Mutual Insurance Co. (NAIC No. 23388) | Yes | Shelter Insurance has six price tiers within its Homeowner rate plan. A consumer's CPAttract score is one factor used to determine the tier to which the consumer will be assigned. |
| Mid-Century Insurance Co. (Farmers.NAIC No. 21687) | Yes | Farmers uses a proprietary model to create a risk assessment score to provide our customers a discount on their insurance premium. The amount of discount varies depending on the customer's risk assessment score. |
| Auto Club Family Insurance Co. aka AAA (NAIC No. 27235) | Yes | The Auto Club Family Insurance Company uses a financial responsibility score as one of the factors used to rate an insurance risk. This could result in a discount or a surcharge. |
| SAFECO (NAIC No. 24740) | Yes | Safeco Insurance Company of America considers a number of insurance risk factors including credit scores to determine the tier placement for customers. |
| Allstate Indemnity Company (NAIC 17230) | Yes | Allstate Property and Casualty Insurance Company uses an insurance scoring model that assigns a three-digit score to each policy based on credit report information. Each policy is then assigned to one of thirty rating groups based on this score. Each rating group receives a different factor. No consumers are rejected solely based on credit history. Consumers may be rejected partly based on credit history. |
| Farm Bureau Town & Country Insurance Co. (NAIC No. 26859) | Yes | Farm Bureau Town & Country Insurance Company of Missouri currently uses insurance scores as a rating factor in the determination of premium and insurance scores are used in conjunction with other criteria as qualifications for certain programs. |
| Fire Insurance Exchange (NAIC No. 21660) | Yes | Farmers uses a proprietary model to create a risk assessment score to provide our customers a discount on their insurance premium. The amount of discount varies depending on the customer's risk assessment score. |
| Standard Fire Insurance Company (NAIC No. 19070) | Yes | Company does not write new business |