I am with Geico currently and is up for renewal. I am planning to take quotes from different companies. May be they offer me a low rate. But I am scared by the fact that it will impact my credit score. Can you please advice? I have been driving for 4.5 yrs with clean record.
It's smart move to call around and get quotes. You need to do some leg work on this because each company will look at your record and intended vehicle differently. see this
http://best-auto-insurance-usa.info/
it's one form to get a number of quotes from different insurers. It's free and a big time saver, these are all the main American insurers competing to get your business so you are bound to find something that suits you, if not, here's more from my bookmarks
http://cheap-auto-insurances.info/
you'll find the best or cheapest insurance you wanted, after doing proper research.
Hope this help,
Inquires from auto insurance companies don't make any difference as they are not out to loan anything to you.
I take quotes very regularly and my score is as high as it can go, also due to the fact that paying little insurance money I HAVE money to pay ALL my bills when the bills come!
This is where I go to http://www.autoinsuranceproviders.esuper…
or even http://autoinsurance.guidearticles.com/i…
They are similar sites in that you just input your details and they'll search around amongst main insurance carriers and then they'll give you multiple results.
Don't worry about it. Credit inquiries don't move your score up or down very much. I had three inquiries in one day and it only moved my score down two points.
Creditors will get concerned if there are a bunch of inquiries on your credit report AND you want to get lines of credit.
Since insurance companies are only checking your creditworthiness and NOT giving you a line of credit, it won't impact your score a great deal.
For a major purchase, all hits on your credit score will only impact as one hit as long as they all occur within 30-days. For example, if you're trying to get a mortgage, you're score's not going to be dinged 12 times from multiple hits... all mortgage inquiries will only act as one hit. So, don't worry about it as long as you get all estimated quotes within a 30-day period.
Don't worry about it the inquiries that insurance companies run are whats called soft and do not affect your credit score at all they are only looking at information not approving you for credit because you did not apply for credit and that is the only time a hard inquiry is made.
Every time there is an inquirery for your credit report or score you loose points.
If I remember right insurance companies can only access you record once every three years.
Go here and read up:
http://www.myfico.com/CreditEducation/Ri…
If the company that you call for a quote runs your credit report, then it will affect your score for one year. If they do not run your credit report, then it will not affect your score.
Getting new automobile insurance is a fast and easy way to save your money. You can get a simple estimate online they usually give you lots of quotes.
I have used http://www.InsureAutoNow.info