Myth 3: Your credit has no effect on your insurance rate
Many people think that their credit score is irrelevant to their auto insurance, but this is not the case. Your credit score is a measure of your financial responsibility and trustworthiness, and insurance companies use it to assess your risk level. A good credit score can lower your rate, while a poor one can raise it. Therefore, it is important to maintain a good credit history and check your credit report regularly for errors.