(Photo: Shutterstock/NorSob)

Homeowners with poor credit pay twice as much for homeowner’s insurance as those with excellent credit, a new study revealed. The study, conducted by insurancequotes.com, showed that homeowners with fair credit pay 32% more than those with excellent credit, up from 29% in 2014, while premiums of those with poor credit may increase by 100%, up from 91% in 2014.

Homeowners with poor credit pay at least twice as much as those with excellent credit in 38 states and Washington, D.C. The highest in the nation is West Virginia with a 202% increase, followed by Washington, D.C., with 185%, then Montana with 179%.

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