Non credit related searches

GingerBob_3

These blighters who access credit reference files for insurance quotes and the like; does anyone know what they actually see? Do they see credit information, or just that you're on the electoral role. Experian don't clarify it.

Thrugelmir

Checks registered as insurance quotation have no impact on a credit file.

GingerBob_3

Thrugelmir wrote: »

Checks registered as insurance quotation have no impact on a credit file.

I know. But what do they see? Do they see the credit information or not?

thebritishbloke

I don't think they see much other than basic information. Such as if you've defaulted/CCJ/Bankruptcy etc. They may also see a basic view of how long and good your credit history is, but I highly doubt they see anywhere near as much as a full search.

lordash

Apparently, they can see everything (much like doing a credit card quotation) - whether it is taken into account or not for insurance purposes I don't know. I would hope it is only being used to confirm residency and to calculate price/risk for pay monthly credit deals.

Talking from my own experience, I don't have the best credit record ever but it has not affected me getting very good deals on my car insurance.

Something I did not realise is that lenders can see "quotation searches". Experian duck out of this by saying that lenders should not use these to calculate risk:

"If you asked the organisation for a quote rather than applying for credit, this should be shown on the search record.

These records are called ‘quotation searches’ and lenders will know that they don’t represent credit applications.

Quotes can be given for credit cards, insurance, personal loans, mortgages, store cards, or bills."
Somewhat worrying as I have about 80 car insurance quotation searches on my file (all from doing a few quotes for different cars on GoCompare).

GingerBob_3

lordash wrote: »

Apparently, they can see everything (much like doing a credit card quotation) - whether it is taken into account or not for insurance purposes I don't know. I would hope it is only being used to confirm residency and to calculate price/risk for pay monthly credit deals.

Talking from my own experience, I don't have the best credit record ever but it has not affected me getting very good deals on my car insurance.

Something I did not realise is that lenders can see "quotation searches". Experian duck out of this by saying that lenders should not use these to calculate risk:

"If you asked the organisation for a quote rather than applying for credit, this should be shown on the search record.

These records are called ‘quotation searches’ and lenders will know that they don’t represent credit applications.

Quotes can be given for credit cards, insurance, personal loans, mortgages, store cards, or bills."





Somewhat worrying as I have about 80 car insurance quotation searches on my file (all from doing a few quotes for different cars on GoCompare).

The answer here is, I think, to carry out requests for quotation via the comparison websites using bogus data. I tried this again a couple of days ago with GoCompare and got loads of realistic quotes. The input data was totally bogus - but realistic - so where any credit search went is anyone's guess (probably nowhere). You can review all the quotes and then when you've settled on one, go direct to that company.

I carefully reviewed the whole process looking for a point at which I was forced to agree to their placing searches with the CRAs - I didn't see anything (but I might have missed it). There was nothing about them, GoCompare, carrying out the searches, nor about the insurance companies doing so. Can anyone confirm this point?