Major Credit Reporting Bureaus

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Declared credit-based insurance values

Safeco, like most insurers, uses many different criteria to evaluate your policy. It includes your driver's comment, loss experience, nature of the house or car you own, and your credit-based assessment of your insureance. Why is a credit-based insurable value important and what is it? It is not the same as your credit rating, nor is it a yardstick for your credit rating.

Pay ment-based assessment of your health is a number that indicates the probability that you have an entitlement to health care. Research has shown that higher credit-based consumer insurances have fewer and less serious loss outcomes. This is why credit-based credit ratings are useful as a credit assessment tool, but it is only one of many that are used.

Since your credit histories affect your credit-based insured values, it is important to check them periodically and make sure they are correct. Under the Fair Credit Reporting Act (FCRA), you can order a free annual reporting from any of the major credit reference bureaus. They can also buy a 3-in-1 audit to check their results from all three major credit bureaus Ecuifax, Experian and TransUnion.

The majority of states have regulations about how credit information can be used in credit insurances. Please consult your state's Ministry of Health for the latest information on your state's regulations. If your credit file is not complete or contains an incorrect document, ask the credit reference office to make the necessary adjustments. The Safeco Imaging Center, PO Box 515097, Los Angeles, CA 90051-5097.