Insurance Search Impact on Credit Report?

modder25

Hi all,

I am looking to purchase a car very soon so need to start doing insurance quotes.

I am wondering that when the insurance companies do a search on me will this affect my rating with multiple searches?

Many Thanks

MadProf

No. They'll show up as "quotation" searches instead of "credit" searches.

A lot of the soft search credit card eligibility checkers leave the same kind of footprint on your file.

YorkshireBoy

Insurance searches are classified as 'unrecorded enquiries' and as such are not seen by other lenders when they search your CRA files.

modder25

Thank you for your replies, been a great help.

I'll get comparing today then.

YorkshireBoy

modder25 wrote: »

Thank you for your replies, been a great help.

I'll get comparing today then.

Just so you're aware, you may also see a load of repeat searches on your CRA files this time next year (see the privacy policies/T&Cs of the comparison websites).

modder25

YorkshireBoy wrote: »

Just so you're aware, you may also see a load of repeat searches on your CRA files this time next year (see the privacy policies/T&Cs of the comparison websites).

Thank you YorkshireBoy,

Is this likely to affect me obtaining credit in the future?

YorkshireBoy

modder25 wrote: »

Is this likely to affect me obtaining credit in the future?

Read post #3 again. If lenders can't see them, they can't affect your credit rating.

modder25

YorkshireBoy wrote: »

Read post #3 again. If lenders can't see them, they can't affect your credit rating.

Thank you for your help.

O_Miserly_one

When using car insurance comparison sites, without even selecting any product, I always get two soft searches appearing on my credit file from SWINTON and ADMIRAL.

I complained to Equifax as they are the only two companies who do this. It is intrusive and unnecessary at the general enquiry stage. Swinton don't even know the individuals they done them on - it's automated. Equifax were good and told Swinton to withdraw the search. However, it will appear again as soon as I use a comparison site again.

So when I phoned SWINTON they said "it's perfectly OK as it's in our terms and conditions".
But if I don't accept them I cannot use a comparison site at all. That can't be right, can it? :mad: