Answer:

The connection between a driver's safety record and credit rating is not readily apparent to most. Many consumers feel that insurance companies are intrusive when they request such information on an automobile insurance application. Insurance companies explain that credit information is needed to make a complete risk analysis when evaluating an insurance application.

It seems that there is a connection between credit risk and safety risk. Although there is no explanation for the findings, some insurance company statistics show that drivers with derogatory credit, historically file more accident claims than drivers without derogatory credit. Insurers reason that a consumer who is careful with one aspect of their life (e.g., financial affairs) is also likely to be careful with other aspects of their life (e.g., driving habits). Credit information is also needed to determine whether an applicant is likely to pay premiums in a timely fashion.