Insurance renewal

[warrenpenalver]

Also, and depending on whether you get quotes direct, or go through comparison sites, some will show up on your credit report as a recent search. To many will have an adverse effect for future quotes when you DO come to renew.

since when has credit scoring had an impact on your insurance qoute???

I dont get how its a valid risk factor to take into account??

wether they let you pay by installments yeah, but a core qoute i cant see the relevance?

 

[Scotty1.7]

Warren- I think its to do with your credit history and the availabilty to egt it on installments

 

[Cherie]

Exactly right Scotty, it you're getting quote after quote, and if they're for paying in monthly installments, the companies that you're getting quotes from will do a credit check as you'd be entering into a credit agreement. Too many checks on your file, especially if your rating isn't great to start with, there is a risk that you might not be offered the option to pay by installments. This is because it might look like you're struggling to get credit if you're making lots of applications.

Just saying it's something to be aware of.

Scotty, I've just got my insurance through First Direct. At the moment they've got an offer for new customers where they guarantee to beat your renewal quote by 10% providing like for like cover.

 

[Scotty1.7]

Nice one Cherie I'll have a look

RE: Credit comment- Are you sure on that? I thought they only did the credit check afetr you had agred to take it out? I know that what they do at ours?

 

[Dal]

How do they know what APR to offer you on the instalments if they don't know what risk you are Scotty?

 

[Cherie]

RE: Credit comment- Are you sure on that? I thought they only did the credit check afetr you had agred to take it out? I know that what they do at ours?

Positive. I've got access to my credit report through Experian, and checks have shown up when I've had quotes.

 

[Scotty1.7]

Ah right ok.

Just i have never seen any show up on mine from when i was looking around for Bee's insurance.

Dal- From my knowladge of ours at work its a fixed rate for car insurance- as long as you pass the credit check after the quote and accept that- that what you pay?

All that is based on the CFS/CIS Systems (who don't cover modded cars so i couldn't stay with them for Bee)

I used to work on the phones doing the quotes and taking them out- And they were either accepted of declined- the preimum and apr never changed when we accepted some one on monthly payments?

 

[SkunkMunkey3000]

Just had a look through the girlfriends Experian stuff, some quotes do show up but they only appear as queries not as 'actual' credit so shouldn't affect your credit score.

 

[Marcus000]

I just went online to check my policy with Quinn and their policy on modifications.

To declare "alloy alterations" and "aftermarket air filter" on my policy, they want to rob me of another £150.. brilliant!