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Car Insurance Credit File
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JGUK
Posts: 222 Forumite

Hi Guys,
Took out a car insurance policy with Tesco Bank today and signed up for the monthly payment offer as it wasn't too steep.
The advisor said they only soft check and don't report to credit agencies unless you default.
Does that sound accurate to you guys? Their documents are quite light on the ground surrounding what they do or don't do.
Thanks
JGUK
Took out a car insurance policy with Tesco Bank today and signed up for the monthly payment offer as it wasn't too steep.
The advisor said they only soft check and don't report to credit agencies unless you default.
Does that sound accurate to you guys? Their documents are quite light on the ground surrounding what they do or don't do.
Thanks
JGUK
Thanks
JG
JG
0
Comments
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never had any soft check or hard check when ive done car insurance
ive seen other threads on this where they have. Im not sure on the protocol regarding insurance but i alwways do monthly payments and have never been credit checked any sort of way
maybe they do it as an identity check and maybe ive never had to do it because ive always had no claims bonus and they always do a check on that so they have never needed to do a credit check for me0 -
never had any soft check or hard check when ive done car insurance
ive seen other threads on this where they have. Im not sure on the protocol regarding insurance but i alwways do monthly payments and have never been credit checked any sort of way
maybe they do it as an identity check and maybe ive never had to do it because ive always had no claims bonus and they always do a check on that so they have never needed to do a credit check for me
House insurance has resulted in a litany of soft checks whenever I've done a comparison.0 -
Yes but when you pay the car insurance off in instalments over the year and in this specific case via Tesco Bank Car Insurance & Tesco Bank, do they post the account reporting to any of the credit files?
Aviva have done in the past to CallCredit/TransUnion only - but I think they've stopped all that now with their new Aviva Plus insurance.Thanks
JG0 -
Ask Tesco if they report to the CRA’s0
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I don’t think that they would report the monthly payments to a CRA as paying for an insurance premium on a monthly basis is not a credit agreement.
If you missed a payment, the policy coverage would simply be terminated.0 -
I don’t think that they would report the monthly payments to a CRA as paying for an insurance premium on a monthly basis is not a credit agreement.
If you missed a payment, the policy coverage would simply be terminated.
Actually, it is.
Insurance is (usually) an annual policy, so by opting to let you pay monthly you are being extended credit and along with that there is a credit agreement. Whether that is reported to the CRAs I couldn't tell you as I pay annually.
A few links to people getting credit agreements for insurance being paid monthly...
https://forums.moneysavingexpert.com/discussion/4902638
https://forums.moneysavingexpert.com/discussion/3132608
https://forums.moneysavingexpert.com/discussion/48972020 -
Happy to stand corrected!0
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had car and bike insurance on pay monthly (10 payments per yr or whatever) , lots of soft credit searches
this year is the first time that motorcycle insurance is shown in my credit file , each month showing how much is left to pay0
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