Insurance Score Discount

Insurance prices are fair when the price reflects the risk. If one person is more likely to have a claim than another, or if one type of claim costs more than another, that should be reflected by a difference in the price of insurance. At PEMCO, we know it's important to keep our prices as fair as possible for every customer we insure.

While it isn't as intuitive as other risk factors like age, address, driving record, or type of car, credit-based insurance scores are one of the most statistically accurate predictors of the risk of future claims.

Insurance scores are different from credit scores. They don't include the same information, and they're used for different purposes. Credit scores are used by lenders to decide how likely it is that someone will repay a loan. They include income and net-worth information. Insurance scores, on the other hand, are used to predict how likely it is that someone will need to make a claim. Income and net worth are not a factor.

PEMCO uses insurance scores that are calculated by an outside, independent firm using some of the information found in credit reports. We don't ever see the actual consumer report containing the credit history that's used to compile the score. The information we do receive is protected by our privacy policy.

PEMCO uses insurance scores solely for the purpose of offering a discount. We don't use it to determine eligibility for insurance. Like our other discounts, the Insurance Score Discount is just one more way we reward responsible individuals.