negative on record to change car insurance companies to get a lower rate
November 7th, 2009 • Filed Under•242 views
negative on record to change car insurance companies to get a lower rate
If I change car insurance companies to get a lower rate, does that look negative on my record?—By acqueline P
I could save about $40.00 monthly if I switch companies. I’m just wondering if that will look bad on my credit or if it will have any adverse effects on anything that will be taken into consideration for future insurance evaluations or reviews for credit worthiness. Thanks.
Best Answer - By Kurt G
It will not affect your credit in any way. It is your right and privilege to pick your own company and agent. If this is a good company, go for it. That is a savings of almost $500 a year. Please make sure you are not giving up any coverage so you don’t find out the hard way – after you have a claim.
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Comment by
shjf47 on 7 November 2009:
You can change insurance companies at any time. It has no effect on your ability to get insurance. insurance companies do not report to credit agencies. If you have paid into your present policy and want to cancel, your present insurance company will refund any non used premium.
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Comment by
Matt the MoparMan on 7 November 2009:
I say switch. It does not affect your record at all. It doenst matter, as long as you don’t go more than 30 days without insurance. Also, insurance companies do not report to credit agancies, unless you miss payments AND file a claim.
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