Starting on June 20, 2021 the Washington State Insurance Commissioner has banned insurance companies from using credit in rating auto, home or other personal insurance.
Washington Insurance Commissioner Kreidler issued an emergency order prohibiting insurance companies from considering credit information in setting rates for Auto, Boat, RV, Homeowners and Renters policies. Insurance companies have to use new rates without credit surcharges or discounts starting in June of 2021.
While this will help people whose credit has suffered due to the pandemic, people with good credit will also lose discounts and could see their rates increase as much as 30%. If your rates increase this coming year, please be sure to contact us. We can shop your insurance to over 10 different companies to be sure you’re getting the best rates available. To shop your coverage we may need updated information and in some cases, your permission, to obtain quotes.