Does getting an insurance quote hurt credit score?

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asked Oct 20, 2019 in Insurance by nightdevil (410 points)
Does getting an insurance quote hurt credit score?

1 Answer

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answered Oct 20, 2019 by Judy (56,120 points)
Insurance companies do check your credit score and run a credit check to determine your insurance rates.

But when the insurance companies pull your credit when getting an insurance quote they put a soft inquiry on your credit report.

The soft inquiry that gets put on your credit report does not harm your credit or lower your creditor score like a hard inquiry would.

When you apply for credit cards or loans etc they put a hard inquiry on your credit score which temporarily lowers your credit score but then after 6 months to a year it no longer affects your credit score.

But getting an insurance quote does no harm to your credit score so you can get as many insurance quotes as you want too and your credit score will not be affected.

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