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Gumpslilqtpie
Living the DREAM!!!
Member since 7/06 2646 total posts
Name:
Kimmer
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Car Insurance and credit checks ???
Is it a standard thing that when you are getting quotes for car insurance that they do a credit check??
Message edited 7/30/2008 2:41:19 PM.
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Posted 7/30/08 2:39 PM  |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Car Insurance and credit checks ???
yes
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| Posted 7/30/08 2:53 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Car Insurance and credit checks ???
Posted by ave1024
yes
REALLY? I am annoyed now. I could see doing it for a car LOAN... but for insurance? They have never given me any disclosure with regard to that! I can't imagine how often my credit was dinged in the last 4 months while we shopped for insurance.
And where do they pull my SS#? I know I didn't give it! DOUBLE
Message edited 7/30/2008 3:02:39 PM.
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| Posted 7/30/08 3:01 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Car Insurance and credit checks ???
I just shopped around- and it had no effect on my score
Jake pulled it after that check was stolen to double check
I do get calls for mortgage companies now - b/c his pull shows up
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| Posted 7/30/08 3:05 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: Car Insurance and credit checks ???
Posted by rojerono
Posted by ave1024
yes
REALLY? I am annoyed now. I could see doing it for a car LOAN... but for insurance? They have never given me any disclosure with regard to that! I can't imagine how often my credit was dinged in the last 4 months while we shopped for insurance.
And where do they pull my SS#? I know I didn't give it! DOUBLE
Yeah, they've been doing it for a while now. I'm not sure what the connection is but they do run your credit.
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| Posted 7/30/08 3:08 PM |
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EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
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Re: Car Insurance and credit checks ???
I thought they do a soft pull so it wouldn't show up as an inquiry on the CR? I know Geico has a disclosure in their app that says your rate is dependent upon your credit.
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| Posted 7/30/08 3:21 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Car Insurance and credit checks ???
Posted by Jennie0898
Posted by rojerono
Posted by ave1024
yes
REALLY? I am annoyed now. I could see doing it for a car LOAN... but for insurance? They have never given me any disclosure with regard to that! I can't imagine how often my credit was dinged in the last 4 months while we shopped for insurance.
And where do they pull my SS#? I know I didn't give it! DOUBLE
Yeah, they've been doing it for a while now. I'm not sure what the connection is but they do run your credit.
The theory is that if you are responsible with your credit, you are a better driver, and people who don't take care of bills and payments don't drive as well. They've been doing this for years.
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| Posted 7/30/08 3:33 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Car Insurance and credit checks ???
Posted by GoldenRod
The theory is that if you are responsible with your credit, you are a better driver, and people who don't take care of bills and payments don't drive as well. They've been doing this for years.
That makes complete sense! I am going to drive home tonight and try to figure out who has bad credit based on how much they cut people off and run lights.
I bet Britney Spears has AWFUL credit.
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| Posted 7/30/08 3:36 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Car Insurance and credit checks ???
Posted by rojerono
Posted by GoldenRod
The theory is that if you are responsible with your credit, you are a better driver, and people who don't take care of bills and payments don't drive as well. They've been doing this for years.
That makes complete sense! I am going to drive home tonight and try to figure out who has bad credit based on how much they cut people off and run lights.
I bet Britney Spears has AWFUL credit.
Banks should give out loans based on a driving test...
"Well, we can give you a loan at 4% above APR because you made a rolling stop 2x, you didn't signal when changing lanes, and you hit 60 mph at one point on the LIE..."
I never said it made sense, it's just the criteria that some insurance companies use....
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| Posted 7/30/08 3:49 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Car Insurance and credit checks ???
Posted by GoldenRod
Banks should give out loans based on a driving test...
"Well, we can give you a loan at 4% above APR because you made a rolling stop 2x, you didn't signal when changing lanes, and you hit 60 mph at one point on the LIE..."
I never said it made sense, it's just the criteria that some insurance companies use....
I love that idea! Except... I'm a sh!tty driver.
... oddly enough my credit isn't stellar either....
Message edited 7/30/2008 4:43:59 PM.
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| Posted 7/30/08 4:43 PM |
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Babe49
M...
Member since 4/08 1880 total posts
Name:
Maria
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Re: Car Insurance and credit checks ???
Yes, I am an insurance agent, and the companies call it "insurance scoring". So we don't actually see your credit report or personal info, but it does affect your premiums. We run it, and the premium is adjusted accordingly.
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| Posted 7/30/08 6:42 PM |
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Babe49
M...
Member since 4/08 1880 total posts
Name:
Maria
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Re: Car Insurance and credit checks ???
Posted by Summerrluvv
I thought they do a soft pull so it wouldn't show up as an inquiry on the CR? I know Geico has a disclosure in their app that says your rate is dependent upon your credit.
Right. I believe only YOU can see the insurance company inquiry on your credit report, but others cannot and your score is not affected.
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| Posted 7/30/08 6:43 PM |
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Babe49
M...
Member since 4/08 1880 total posts
Name:
Maria
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Re: Car Insurance and credit checks ???
Posted by rojerono
Posted by ave1024
yes
REALLY? I am annoyed now. I could see doing it for a car LOAN... but for insurance? They have never given me any disclosure with regard to that! I can't imagine how often my credit was dinged in the last 4 months while we shopped for insurance.
And where do they pull my SS#? I know I didn't give it! DOUBLE
The scoring can be run with no SS#. Just name, address, date of birth.
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| Posted 7/30/08 6:44 PM |
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