Pet Insurance - hard checks on credit

Anousha1978

Hi all - I am just about to purchase a pet insurance and wonder if it works on the same principle as the car insurance.
So if I was to set up monthly payments for car insurance- the provider would perform hard check on my credit, which would show in my history. But not if I decided to pay annual fee rather than paying monthly.
Is it the same with pet insurance- if I decided to set up monthly payments- will the provider carry out a hard check on my credit? Thanks in advance

Sandtree

It depends.

You need to think of the supply chain and who's actually giving you the credit. In many cases if you go direct to an insurer then they don't do hard credit checks (thought they could if they wanted) if they give you the credit themselves as their cashflow is fine with the money coming in over time. If you buy from a broker though they have to pay the insurer before you pay them so they may want more assurances. If the seller uses a third party to provide the credit then that company will almost certainly want a credit check as its only income is from the loan.

So many motor insurers don't do hard credit checks and some pet insurers will.

TELLIT01

It certainly makes sense for any credit provider to check the credit worthiness of any prospective client before approving what is in effect a 12 month loan.  For example if a pet needed expensive surgery in the first month and then the owner stopped paying the premiums, the vet would have been paid and the insurer would be out of pocket.

Anousha1978

Ah so it does look like my best option to avoid hard check would be to pay annual fee rather than do that through monthly payments. Many thanks all

bradders1983

Why are you so worried about it showing?