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lpq

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Potential impact on Credit Score with new Renters Insurance?
I'm considering getting Renters Insurance for the apartment I rent in NYC. I would like to understand:
1. Will an application for this result in a hard inquiry on my credit reports and thus lower my credit score?
2. Currently I have 4 active credit card accounts. Will adding Renters Insurance in that mix (and regularly paying it ofcourse) diversify the types of credit lines I have active and therefore have a positive impact on my credit score?
3. Is there a way to understand what the net impact will be and whether there's a good vs bad time to apply for this?

My credit score is excellent and I'm pretty sure I'll get approved - just wanted to understand the potential impact, short term and long term.

Thanks!

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When credit is pulled for insurance it is usually only a "soft inquiry" which does not affect your credit. Check with the company to be sure though. Insurance accounts do NOT get added to your credit reports, they have no affect on your credit mix or anything like that. Be sure that you take some time to do some further reading on all credit related subjects, the knowledged gained will be valuable for the rest of your life.

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