Home Insurance Quote, Compare Home & Condo Insurance in Lansing Michigan

Insurance Scoring and how it affects your Lansing, Michigan Home Insurance Rate

An Insurance Score is a snapshot of an individual’s insurance risk picture at a particular point in time. It is based on information found in their credit report but is not a “hard hit” on their credit report. It helps determine the financial responsibility of an individual and is helpful in determining loss frequency. Insurance scores are highly accurate predictors of future loss for Lansing home insurance companies.

Q. What is the difference between a credit score and an insurance score?

A. A credit score is typically used by banks and financial institutions for purposes of providing a credit account. A credit score is designed to predict the likelihood of a future delinquency on a credit account (e.g. failure to pay of f a loan). An insurance score is designed to predict the likelihood of a future home insurance claim. To develop insurance score models, statistical methods are utilized to determine the predictivness of insurance losses using credit related attributes.

The rank for Cost of Home Insurance in Lansing, Michigan is 8. 57 burglaries were reported in Lansing in 2008. In Lansing, Michigan the average sales price for a house is $94,070. Lansing homeowners pay an average annual cost of $785 for home insurance while the median income in Lansing is $34,833. Lansing was founded in 1835. 26 housefires were reported in Lansing, Michigan.