Car insurance quotes - affect credit score

leo1976

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Hello,

My car insurance is due to run out beginning of Feb so shopping around now. My renewal quote has come through its 10% more expensive than last year despite another no years claim and me being another year older!!

Bit concerned that if you get a lot of quotes though, this will affect your credit score, can anyone assist please? My mortgage renewal is up in October and although I dont have any debts (apart from a big mortgage) I dont want anything being jeopardised.

Can anyone help???

Many thanks.

lisyloo

Normally the checks that car insurers do are of the type "identity check" and not "credit check" therefore they don't affect your creditworthiness.

Do you have no other credit accounts?
catalogues? contract phone? credit card? current account with overdraft?

If you literally only have one credit account then this won't provide a lot of credit history for lenders to work on.

Perhaps you should consider getting copies of your credit reports from Experian or Equifax. I would recommend paying £2 and getting the statutory reprts (now online at Equifax, but postal with Experian).
There are free trials but you will have to hang on the phone and jump through hoops of fire to get them cancelled so I don't advise it for the sake of saving £2 as it coudl well end up costing you more.

VIGILANT22

lisyloo wrote: »

Normally the checks that car insurers do are of the type "identity check" and not "credit check" therefore they don't affect your creditworthiness.


WRONG.......they do run credit checks this should be made more clear on their sites

olly300

VIGILANT22 wrote: »

lisyloo wrote: »

Normally the checks that car insurers do are of the type "identity check" and not "credit check" therefore they don't affect your creditworthiness.


WRONG.......they do run credit checks this should be made more clear on their sites

They only do a full credit check if you choose to take out car insurance and pay monthly as you are entering a credit agreement.

This is the bit people don't understand even though it's repeated on here everyday.

As lisyloo said the credit search, while you will see it on your credit file, does not affect your credit creditworthiness.

glider3560

From all the quotes I've ever obtained, the only one on my credit report is Norwich Union/Aviva. No-one else has ever searched my credit report in respect of general insurance.

leo1976

Many thanks for all your replies, dont feel so worried now. Will let you know how I get on :-)