Credit Score

• Financial stability lowers insurance rates. Homeowners are considered more stable if the home mortgage is up-to-date and there are no records of late payments. Contrastingly, what the credit industry and insurance companies consider too much debt in relation to income can negatively affect the insurance score, regardless of whether all mortgage payments are current and the contract is in good standing. Homeowners who have no lien on their residence and own the property outright are considered less of a risk than mortgage holders.
  
  

Company Discount

• An additional way owning a home can have a substantial impact on auto insurance rates is if the homeowner purchases both a policy for the home and a vehicle through the same insurance provider. Major insurance companies in the United States offer policyholders a discount for contracting multiple policies.
  
  

Maturity

• A number of factors benefit older adults in obtaining a better insurance score when contracting car insurance. Financial stability has a tendency to increase with age. Older adults are less likely to file claims. The main reason is that older adults simply have fewer accidents. In addition, older adults have a more extensive credit history from which to gather data and are less likely to carry a large mortgage on their primary residence, but instead may own the home free and clear.
  
  

Independent Agents

• The more policies an insurance agent sells, the more income earned. Just as most major companies give discounts for multiple polices sold to one individual, so do independent agents. In this case the homeowner's policy and auto insurance policy do not have to be underwritten by the same company. Many independent agents represent a group of insurers or a family of companies, and if a homeowner purchases an insurance policy for a vehicle through the same agent that services the home policy, a discount may be offered.