Insurance rates are like the building blocks that providers use to determine the cost of a premium.
On one hand, certain risks can put you in a higher rate category, while applicable discounts can lower your rate.
On the other hand, an insurance quote is an initial estimate of how much you will pay for insurance, based on a limited amount of personal data.
The underwriting process helps insurers pinpoint the risk that an applicant poses and arrive at a premium price.
Does getting a car insurance quote affect your credit?
No. Insurance companies employ a “soft pull” credit inquiry, which will appear on your credit report but won’t affect your credit rating.
However, hard inquiries, conducted by lenders, can affect your credit score if you frequently apply for credit.
