Insurance recorded on credit file?

Little_Missy

Hi all,

Just a quick query.........if a person pays an annual insurance premium monthly, is this recorded on their credit file?

If so, does anybody know if Protect Your Bubble records information with credit reference agencies?

Thanks in advance!

Experian_company_representative

It could be included on your report if the provider has joined one or more of the credit reference agency data sharing schemes. Best way to find out on an individual basis is either to ask the provider or, assuming you've taken one out already, check your reports. That said, I don't think many insurance companies are doing this just yet.

James Jones

UsetheFORCE

My home insurance is with Barclays and it reports to Callcredit as a monthly loan.

Of course if you pay for the insurance in one lump sum then I see no reason why they would record in the first place.

Osarkon

My car insurance is with Aviva and that's reported as a loan.

argomatt

My car insurance is paid in monthly installments to Hastings Direct and doesn't appear on my Noddle report.
My girlfriends insurance is with Churchill and thst shows up on her report.

matttye

I insured with eCar and paid monthly, then Admiral and paid monthly, then Hastings Direct and started paying monthly, but paid the remainder in full a few months ago.

None of those have been reported to any of my credit files.

Little_Missy

Thanks for all the replies

So sounds like it just depends on the individual insurance company and whether or not they choose to report to credit reference agencies.

Does anybody have insurance with Protect Your Bubble? If so, is this recorded on credit file? I've tried asking PYB directly, but they haven't responded.

Thanks.

A_Flock_Of_Sheep

It seems to me to ask a question what ISN'T recorded about you in the files of these bureaus.

It's bad enough other unregulated credit such as Mobile Phones and Satellite Telly seem to get on your files. Even British Gas got in on the act. We soon dumped them when I discovered they were passing my account details to these third party data agencies.

Why on earth does insurance need to be on there? Since when was your car insurance or home insurance a "loan"?

What next? The window cleaner reporting whether you have paid their last week's fee or the milkman? How about the football pools person?

Is there no end to the needless information held by these nosey credit reference companies?

Thrugelmir

Little_Missy wrote: »

Hi all,

Just a quick query.........if a person pays an annual insurance premium monthly, is this recorded on their credit file?

If you enter a credit arrangement to pay in installments then yes. As the credit facility will be offered by a different provider to the insurance company itself.

datlex

I think it is considered a loan because you get a price for the whole year then pay it in instalments rather than paying on a month by month basis.

A_Flock_Of_Sheep

datlex wrote: »

I think it is considered a loan because you get a price for the whole year then pay it in instalments rather than paying on a month by month basis.

So are you in some kind of contract then whereby I'd you wish to cancel you are still liable for the remaining year? We have cancelled insurance but pay up front at the start but have always got a proportional refund for the remaining time not used.

If you are in some kind of "contract" similar to a mobile phone then yes one could argue the insurance firm could abuse customers by reporting payments to third party credit reference companies. If there is no financial contracts then in my view they have no right to do so.