Matic Insurance Unveils New Findings on Homeowners Insurance Rates Amid Credit Restriction Laws
Columbus, Ohio, March 19, 2024 (GLOBE NEWSWIRE) -- Matic, a leading digital insurtech platform, today revealed new findings on the impact of credit restriction laws on home insurance rates across the US.
- Columbus, Ohio, March 19, 2024 (GLOBE NEWSWIRE) -- Matic, a leading digital insurtech platform, today revealed new findings on the impact of credit restriction laws on home insurance rates across the US.
- In a study analyzing the correlation between credit scores and home insurance premiums, Matic noted significant differences in the cost of insurance depending on a person’s credit score, particularly in states with no restrictions on the use of credit information by insurance companies.
- According to Matic’s premium and coverage A (Cov A) data collected between June 1, 2022 and March 1, 2024, credit restriction laws help stabilize insurance premiums, but do not completely alleviate the burden on homeowners with lower credit scores.
- For more insights on how the use of credit information has impacted insurance rates and availability, visit matic.com for an in-depth report .