Home insurance listed as an unsecured loan

bakertony13

I recently renewed my home insurance. I noticed on my credit report that it was listed as an unsecured loan. Also accompanied by the message “a new account has been opened”

I wouldn’t of thought home insurance was an unsecured loan as I’ve never received the money they have added to the loan.

is this correct? Any advice is appreciated 

D3xt3r5L4b

Are you paying monthly?
If so then it’s correct. 

Ebe_Scrooge

As per the above, if you're paying monthly rather than in one lump sum then yes, it's a loan.  The insurance company are lending you the money to buy the policy, which you then pay back over a year.  Which is one reason why paying monthly is always more expensive, you're paying interest.  Granted, it's not what you might think of as a loan in the traditional sense, as you're not seeing money going into your bank account, but technically that's what it is.

bakertony13

Thank you both for your reassuring comments - panic over!