Does request of Auto insurance quote have any negative effect ?
Question:
thanks very much!
Answer:
Many insurance companies do pull credit scores, but it is considered a "soft hit". This means it doesn't pull through as an inquiry when you are trying to get a line of credit.
If your credit is as good as you say, Allstate will actually be hard to beat. But shop away! You have nothing to lose.
No - an auto insurance quote legally cannot affect your credit score as it is simply a request for information. Many companies do check your credit though. Some companies (like the one I work for) will send you a letter if your credit presents an "adverse underwriting situation" - which means that they will charge you a higher rate because you're credit isn't up to snuff.
It will not have an affect on your rating. A suggestion - in addition to getting quote on-line, you may want to talk to an agent from another company. They can sometimes better understand what you're looking to do and provide options to get your premium down. State Farm is one of the companies that offers both an online quote, and you can call an agent. I have insurance through them and have found them to be a great company.
Shopping for auto-insurance will definitely NOT hurt your credit score. General rule of thumb, if you don't provide a SSN there is no way to tie that quote to you directly.
I'd suggest going through multiple online quotes to see who provides the best deal, that way you can also confirm that no SSN is being requested. If one asks, just move on, there are hundreds of companies offering free online quotes. To get you started here's a free quote that you can get with my current provider: http://www.rsrvr.com/auto-insurance-quot...
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