Auto insurance and credit report question...?

Question

Many, if not most, insurance companies check your credit report to help determine your premium. My question is... when they do an inquiry, does it show up on your report as a "soft" inquiry or a "hard" inquiry? If you don't know the difference between the two, PLEASE don't answer this question - I don't need any guesses. I've had the same insurance company for a long time, but if/when I decide to shop around for a new policy, I'd like to know if getting a few new quotes is going to ding my credit in any way.

Answer 1

Hard.  I remember that several years ago a company told me that they had one name on the telephone and then a hard credit check appeared on my credit report with a different insurance company name.  I later realized that it was another name for the same company, but not until after I had put a fraud alert on my report...

Answer 2

It's a soft hit.  FOR SURE.  

I've attended the choicepoint class on it.

Answer 3

Any time an insurance company grabs your credit score it's a soft inquiry and has no adverse effect on your credit in any way.

There are plenty of people who will requests from 5 to 10 companies online and it won't adversely effect their ratings.

Happy shopping.

Answer 4

Soft.  It is not an application for new credit.