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coltensmom06
Posts: 83
Registered: ‎02-10-2009
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Do Auto Insurance Quotes Result in Hard Pulls?

I'm trying to lower all my bills, insurance being one of the big ones that I have every month.  I've tried just about everything with my current insurer, Progressive and am thinking about shopping around.  If I do will the inquiries be hard or soft pulls?


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Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Do Auto Insurance Quotes Result in Hard Pulls?


coltensmom06 wrote:

I'm trying to lower all my bills, insurance being one of the big ones that I have every month.  I've tried just about everything with my current insurer, Progressive and am thinking about shopping around.  If I do will the inquiries be hard or soft pulls?


At least with USAA, mine have always been soft.  YMMV

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beamMEup
Posts: 4,473
Registered: ‎12-31-2008
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

Hi coltensmom06 (Hey - you and 06 both have 06 in your names.  Maybe you're related :smileywink: 

 

We're using Liberty Mutual now, and previously Nationwide and I've never seen a hard pull.

We did get quotes from some other companies a while back, they were soft pulls as well.

Just puttin' syrup on something, don't make it pancakes.
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MarineVietVet
Posts: 14,091
Registered: ‎07-14-2009
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

State Farm was a soft for me.

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coltensmom06
Posts: 83
Registered: ‎02-10-2009
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

Thank you guys!  I now will have no reservations about shopping for a better insurance rate.


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RobertEG
Posts: 17,692
Registered: ‎03-19-2007
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

Be aware that anecdotal experiences by others does not mean that anyone you solicit insurance from wont do a "hard pull."

Sure, most dont, but the terms "hard" and "soft" pull are not mentioned in the FCRA.

How they code an inquiry is up to them.  Unregulated.

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leah5570
Posts: 304
Registered: ‎02-06-2010
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

We just switched to Progressive for auto last month. It was a soft pull but...................................

 

The only reason (excuse) to up the price of our policy by five dollars after we started our policy was saying that because we both have one inquiry in the past two years for a mortgage loan, they determined in underwriting to essentially raise our policy pricing. Ya'd think they would be interested in homeowners as opposed to renters, and homeowners insurance as opposed to renters insurance. I was so confused. So if you have a mortgage inquiry from the past two years on your reports, underwriting will determine you as a "risk".

 

Just my two cents.


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O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Do Auto Insurance Quotes Result in Hard Pulls?


leah5570 wrote:

We just switched to Progressive for auto last month. It was a soft pull but...................................

 

The only reason (excuse) to up the price of our policy by five dollars after we started our policy was saying that because we both have one inquiry in the past two years for a mortgage loan, they determined in underwriting to essentially raise our policy pricing. Ya'd think they would be interested in homeowners as opposed to renters, and homeowners insurance as opposed to renters insurance. I was so confused. So if you have a mortgage inquiry from the past two years on your reports, underwriting will determine you as a "risk".

 

Just my two cents.


Sure sounds like they are either brain-dead or just pulling excuses out of their butt to raise rates.

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beamMEup
Posts: 4,473
Registered: ‎12-31-2008
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Re: Do Auto Insurance Quotes Result in Hard Pulls?


leah5570 wrote:  We just switched to Progressive for auto last month. It was a soft pull but...................................

 

The only reason (excuse) to up the price of our policy by five dollars after we started our policy was saying that because we both have one inquiry in the past two years for a mortgage loan, they determined in underwriting to essentially raise our policy pricing. Ya'd think they would be interested in homeowners as opposed to renters, and homeowners insurance as opposed to renters insurance. I was so confused. So if you have a mortgage inquiry from the past two years on your reports, underwriting will determine you as a "risk".


Was that the only inquiry on your reports?  Or did you have other inquiries and they singled out the mortgage inquiry?

Just puttin' syrup on something, don't make it pancakes.
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leah5570
Posts: 304
Registered: ‎02-06-2010
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Re: Do Auto Insurance Quotes Result in Hard Pulls?

I was shocked, and asked a rep their logic. I mean, obviously we were working on a goal; saving money for a down payment, working on debt and credit scores, etc. So wouldn't we be more responsible then a renter (which we are now lol) using all our savings for nice cars and flat screen tvs? The rep referred me to their underwriting department. Since we have like eight policy changes since we've started, I've given up on that issue. Anyways, they are still $80 cheaper a month than AAA, and that's including the deletion of a '99 Ranger and replacing it with an '07 Trailblazer, too! Happy for that.


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