Risk Insurance Partners: Rolando Graham

No. A credit score and insurance score are not the same, a credit score is used to show lenders how likely you are to repay your debts. An insurance score is used to show insurance companies how likely you are to have a claim, to establish your eligibility for payment plans and to help determine your insurance rates.

How are insurance scores determined?

An insurance score is calculated using many factors but here are the ones that affect your insurance score the most.

Payment history — How well you have paid on your outstanding debt in the past.

Outstanding debt — How much debt you have now.

Credit history length — How long you’ve had a credit line.

Pursuit of new credit — If you have applied for new lines of credit recently (this doesn’t include insurance quotes).

Credit mix — The types of credit you have (credit card, mortgage, auto loans, etc.).

Accident and insurance claim history.

UNFAVORABLE CREDIT FACTORS:

Collection accounts.

Numerous past-due payments.

High use of available credit.

Numerous recent applications for credit.

The insurance score scale is a range between 200 and 997.

A good insurance score is in the range of 776 and higher.

What's Your Score?

These factors vary by state to comply with the laws of each state.

BiBERK Business Insurance from Berkshire Hathaway Co. is rated Excellent. If you need a quote, Call our office at 3601-547-3033. We are BiBerk Insurance Partners.

Getting the right business insurance from biBERK can help you focus more on the creative aspect of your business rather than the insurance. Check out biberk.com for more information. 🎥: @sarabendrick #businessowner #businesstips #diy #entrepreneur #femalebusinessowners #femaleentrepreneur

How Liability Insurance Works.

Liability Insurance is for those who are liable and at fault for injuries to other people or damages to someone else's property.

Liability Insurance does not cover intentional or criminal acts even if the insured party is found legally responsible.

Policies can be purchased by anyone who owns a business, drives a car — basically anyone who can be sued for damages and/or injuries.

Policies protect both the insured and third parties who may be injured as a result of a policyholder's unintentional negligence.

With Car Insurance policies, Liability Insurance will cover injuries to other people and their property in the event of an accident.

Business Owners may purchase Liability Insurance to cover them if an employee is injured during business operations or if they happen to be selling products that cause injuries to someone else.

If you need answers to your liability exposure, Give our office a call. 👍🔥🔥

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doesn't have to be complicated – that's why is here! Our team of friendly staff 👥 is here to answer all your questions ❓ and equip you and/or your business with the best policy option and coverage for YOUR needs. Give us a call today 301-547-3033 📞 or visit us online: www.riskinsurpartners.com to get a quote or view our products and services.