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I Have A Financial Stabilty Score Of 1405 On My Homeowners Insurance Policy. What Does This Score Mean?
15 Jan 2010What are the ranges for this score and where do I fall in it. Is this number good or bad? And how it is affecting my homeowners policy premium?
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3 Responses to I Have A Financial Stabilty Score Of 1405 On My Homeowners Insurance Policy. What Does This Score Mean?
Anonymous
January 15th, 2010 at 1:25 pm
You may try to google it,here http://www.InsuranceFreeTip.info/insurance-for-free.htm has some direct resource that might be helpful.
Emilio D
January 15th, 2010 at 5:36 pm
The Financial Stability Score is a rating device composed of a number and a letter. The numerical factor is based on a company’s payment pattern record; specifically how long it typically takes to pay for materials or equipment purchased and the greatest amount of credit it has received.
This record is compared to that of other companies in the Tarnell Company, LLC. database and ranked according to its position percentage-wise. A code of 10 pays in the bottom 10% of companies. A code of 90 pays in the top 10%. The letter grade is based on non-financial statement risk and stability variables
including:
· Years in business
· High credit extended
· Broad supplier risk distribution
Each factor is assigned a point value based on the company’s individual ranking in the Tarnell Company, LLC. database. The point total is expressed in a letter grade, with “A” being the most stable and “E” indicating the most doubtful. Thus, an “A90”
would represent a company that pays in the top 10% of all companies and is one of the most stable in the Tarnell Company, LLC. database
Hope this helps
wph00
January 15th, 2010 at 5:37 pm
Your financial stability score is different than the standard FICO score which focuses on your past history of meeting your financial obligations. Due to recent changes in the financial world banks are tending to look for a measure of future risk, hence the Financial Stability Score. In essence your Financial Stability Score is your risk of bankruptcy. Exact ranges for the mesure are not well established and there is no correlation between your FICO and your Financial Stability Score. A score over 1000 however is good.