Multiple Insurance Quotes Do Not Impact Credit Scores

    CHICAGO, IL, August 12, 2009 /24-7PressRelease/ -- It's no surprise that, in this economic slump, that many consumers are relying on credit and ways to save money to get by and make ends meet. One way to obtain credit and loans is by having a good credit score. A great way to save on bills like insurance is to obtain insurance quotes and find low rates. However, some consumers are afraid that obtaining insurance quotes to save money will lower their credit score.

Let your fears be answered: your credit score will NOT be affected by shopping for insurance quotes, according to a recently published article on InsuranceAgents.com. So do not hesitate to go online and seek multiple insurance quotes in your quest to find more affordable insurance.

Even though insurance agents who plan on offering you insurance quotes will most likely look at your credit report and score to determine an appropriate rate, the inquiry won't count against you on your report.

"When it comes to credit checks, there are two types of inquiries: 'hard pulls' and 'soft pulls,'" according to the InsuranceAgents.com article, 'How Does Obtaining Insurance Quotes Affect My Credit?' "A hard pull refers to credit inquiries for acquiring credit, like from a credit card company or a lender. A soft pull is an inquiry that will review your credit score, much like an agent would to determine an insurance quote. ... [T]he insurance company's name will be listed on your report, but the inquiry will not lower your credit score."

However, the just because insurance quotes do not affect credit scores does not mean the opposite isn't true.

"While shopping for insurance quotes may not lower your credit score, it is important to know that a good credit score can lower your insurance quotes!" according to the article. "Insurance companies and agents that see a potential client with a high credit score will consider you a low-risk client ... They will then be able to offer you more affordable insurance quotes. Good credit saves you money in many different arenas of your life, including insurance."

The article encourages policyholders with good credit scores to obtain multiple insurance quotes to save money. Looking online is oftentimes the best way to do this; it saves time and takes very little effort. Don't spend too much time debating whether or not you want insurance quotes--start saving today.

Visit InsuranceAgents.com for more information.

About InsuranceAgents.com

InsuranceAgents.com provides consumers with access to information including multiple insurance quotes, articles, and comparisons.

Website: http://www.insuranceagents.com/

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