assurance Quotes - Does Shopping For assurance affect Your credit Score?

Insurance quotes and insurance company underwriting have recently added a new factor for evaluating new customers. Now, insurers will check your credit scores. They have determined through statistical testing that habitancy with good credit scores are better risks, and that undesirable credit scores are not good potential customers. insurance clubs and agents that see a person with a high credit score will reconsider you a low-risk client.

There are many consumers who worry that requesting new insurance quotes could have a negative influence on their credit scores. When agents or insurers pull up your credit report, it creates an "inquiry" on your credit history. Inquiries can sometimes lower your credit score by a few points.

So, does shopping for insurance quotes lower your credit score?

assurance Quotes - Does Shopping For assurance affect Your credit Score?

The retort is "No."

There are two types of credit inquiries:

"Hard Pulls" - this refers to credit inquiries for acquiring credit as from a lender, credit card company or a merchant credit card.

"Soft Pulls" - this refers to inquiries made that review your credit score. This is the kind of "pull" that an agent or insurance company will do while the quote process. Soft pulls are not noted on your credit description except listing the name of the entity that made the request. But the Soft Pull does not lower your credit score.

So, you may be sure that shopping for insurance quotes will not lower your credit score. And it is very important to know that a good or high credit score can lower your insurance rates when you shop for insurance quotes.

Hot Tip: The trade group Independent insurance Agents and Brokers relationship (Iiaba) finds that 85% of new insurance buyers will use the Internet for rate quotes and investigate before making a purchase. Start shopping online for insurance and allow exquisite local insurance agents to touch you with the most contentious quotes for your insurance needs.

You could save hundreds of dollars per year through the insurance quote process. Many times, the new agent you choose will deal with cancellation of your old policies and take care of all the paperwork. Shopping on the Internet for insurance quotes is easy, easy and Free!! It does not cost you one cent to get an insurance quote. In a matter of minutes after you submit your request, agents will begin contacting you to perfect your quotes. You could get better coverage for less money...it happens all the time.

Don't waste time, and don't spend more for coverage than you have to!

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