WKBT
May 24, 2021 8:00 AM Sarah Schlichter
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The price you pay for renters insurance depends on where you live, how much coverage you choose and whether you’ve filed any previous claims. But in most states, your rate is also influenced by your credit history and it can make a surprisingly big difference.
On average, renters insurance rates for people with poor credit are 83% higher than those for people with good credit in states where credit is used as a rating factor, NerdWallet found in a recent analysis. (What’s considered a poor or good score varies by insurer, but these scores are generally in line with FICO credit score ranges.)