Auto insurance rate classifications
How Vehicle Classification Affects Car Insurance Policies. Did you know your vehicle classification is taken into consideration when insurance companies establish premiums? Vehicle classification typically refers to the type of the car or what the car is used for. A low credit score does not exclude you from a preferred or standard insurance carrier, however, the rate increase for a low insurance credit score can be so high it is included as a characteristic of the high-risk tier. The lower your credit the higher your risk and rate, but not every company uses credit as a factor in determining your risk. Automobiles are categorized into classifications for insurance purposes, and one of the primary classifications is commercial auto. Within commercial auto insurance, vehicles are further classified by weight or vehicle type, but each insurance company is allowed to set its own classification standards as long as they meet state law.