Renewing car insurance

[Heyhelga]

So got my automated insurance renewal email today. Little bit cheaper than last year but I know that insurance has gone down this year. I have done a Go Compare comparison and found other quotes far cheaper than the renewal offer.

Thing is, we are likely to be in a position this year to seek mortgage to buy our first home. If I go elsewhere the new insurance company are going to run a credit check aren't they and that'll hit our credit rating won't it?

On one hand it would be nice to cut our expenses with the reduced insurance but not at the cost of downgrading our credit rating.

No, changing car insurance provider will have no negative effect on a mortgage application.

But surely the new insurer would perform a credit check? I got a new phone contract last year and they did likewise and then boom next credit rating report my rating had gone down.

Nope they don’t do credit checks

100% go for cheaper option , I always do that

A phone contract is paying off X per month though?

Are you planning to pay your car insurance off monthly or just pay the annual fee? I've never seen any info when renewing or buying new car insurance that they are doing a credit check- but they I pay the annual fee.

I wouldn't have thought it would impact your credit rating. But hopefully someone who knows for sure can advise.

just a little bump really !!

Actually this was another thing. Forgot to ask. Yeah I was thinking of just paying it upfront one payment. Thought it might demonstrate less regular outgoings.

Car insurance is considered to be / treated as a 'normal household expense', unless you miss a monthly payment of course, then it could impact you.

I think you lot are correct. Thank you. I just double checked with AI and it corresponds with the advice on here:

"Switching car insurance companies generally does not affect your credit rating if you pay annually. However, taking out a new policy with monthly installments triggers a "hard search" or credit check. This can cause a temporary, minor dip in your credit score, especially if done frequently."