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Posted in Auto Insurance
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Question By
kjr54

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i got an insurance quote. why did my score drop and what can i do?

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If your score dropped, it was likely only by 1 to 5 points.  What you should do first, is contact the Insurance Provider.  They probably pulled your credit, to see a few things, however, if they did not recieve "Permissible Purpose", you can have it removed.  Basically, if you signed a Document, they likely had permissible purpose, so don't bother if you remember signing something, even if you digitally filled it out online.  Verbal permission is also acceptable under the FCRA.  Ask them for proof of permissible purpose, and if they cannot provide it, ask them to remove the inquiry from your report.  If they will not co-operate, just dispute it directly with the Credit Bureau it's showing up with.  I can help you with that, if you need to go that route, but contact the company first.  If you actually use them for your Insurance, you may want to just buckle up, and move on, because that's bad business to do what I said if you actually like that company, or use them.

And if the person you call is clueless, just ask for a manager, because they'll likely be of more assistance.

Top Contributor
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Most insurance companies will not do a Hard Inquiry on your reports, so my questions are: did something else cause the drop? are you experiencing a drop without reason as many others have experienced lately with Vantage? Do you see a Hard Inquiry on your reports from the insurance company?

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