Life is unpredictable, and when it throws us a curve ball, many of us don’t know how to deal with it. Thankfully, Nationwides allows you to take the necessary steps needed in order to protect yourself and your family by purchasing credit insurance. Credit insurance is designed for people who have poor credit or no credit history at all. It is typically offered in different tiers of coverage that start at $2,000 up to $50,000 worth of coverage while also including other features like identity theft protection and fraud protection.
Benefits of credit insurance
1. Can help you secure a loan even with little or no credit
A lot of people get denied loans if they have bad credit, but with credit insurance you can still secure a loan if you have poor or no credit history. If your loan gets denied, your credit insurance will step in and cover the cost of the loan so that you can start rebuilding your credit history. Click here to get more info kredittforsikring.
2. Good for those with short payment histories
A lot of people want to take out a mortgage but they don’t qualify because they don’t have long payment histories. With credit insurance, this will not be a problem because the insurance company will cover you if you have a short payment history.
3. Good for those who may have bad credit but could use an incentive to improve their credit score
Many of us need to get lower interest rates on mortgages but haven’t moved our debts around yet to qualify, or maybe we are just too dazed by how expensive our current rate is (fifty point something percent?!) and we can’t even see the benefit, which is again credit insurance. Credit insurance will give you the incentive needed to make some changes in your financial habits that will directly improve your score and this eventually brings down your interest rate.
4. Good for those who need to buy a car but have bad/no credit history
Buying a car becomes very complicated especially if you don’t have any credit history. Buying a vehicle is also very expensive even if you manage to get approved for one. Credit insurance will cover your cost of the vehicle and at the same time it will provide you with some security in case something goes wrong, such as having to make an extra monthly payment.
5. Good for those who can’t afford auto insurance
Credit insurance covers more than just an automobile, it also covers all types of risks that include accidental death, theft and environmental hazards like flooding, fire and vandalism.
6. Good for those who have bad credit and record keeping
Credit insurance is not just for those with no credit, it is also for those with bad or no credit history. A lot of people make careless decisions when keeping track of their finances and this can lead to them suddenly losing everything they have worked hard for. Credit insurance covers all types of risks to help you keep your records up to date so that you don’t lose everything in case something unfortunate happens. Click here for kontraktsgarantifor further info.
7. Good for those with poor or no credit history but need some security
Credit insurance covers a wide range of things to protect you from the worst-case scenarios you may face in life.
How much does it cost?
Typical credit insurance policies cost about $100 annually. This may sound like a lot, but when you consider how many things can go wrong in life as well as the money you will save from not having to pay for all of your debts, paying $100 per year is worth it.
As you can see, credit insurance provides a lot of benefits. It helps you rebuild your credit, prevent identity theft and fraud, protect your assets in case something goes wrong and much more. There is no reason not to get credit insurance; it will help you keep on top of your finances better than ever before.
Credit insurance will help you out with a big loan or a lease without having to get bad credit. If you are in need of a loan or lease and want to start rebuilding your credit history with an easy way out when going through the process of applying for loans or leases, then look no further than Nationwide’s Credit Insurance program!