Credit check for car insurance

Kitty900

If my mother pays for my car insurance, would I still need a credit check?

Reply 1

username5395306

Ehm no ad far as I'm aware... Plus why don't you pay for your ur insurance

Reply 2

Joshkav

Original post by Kitty900

If my mother pays for my car insurance, would I still need a credit check?

If your insurance is monthly payments and you are the main driver, then I think the credit agreement will need to be in your name, regardless who is paying the insurance. I may be wrong though, but I imagine some insurers may also off guarantor insurance, etc. In order for the credit and insurance document names to be different :smile:

Reply 3

Kitty900

Original post by 7xm2

Ehm no ad far as I'm aware... Plus why don't you pay for your ur insurance

I stupidly got myself a cifas marker meaning I most likely won’t be accepted for car insurance anyway so I’d just get my mum to do it for me but of course I’ll give her the money.

Reply 4

Kitty900

Original post by Joshkav

I will pay yearly insurance as it’s easier. Long way to save up though.

Reply 5

Joshkav

Original post by Kitty900

I will pay yearly insurance as it’s easier. Long way to save up though.

If you are paying yearly, then there is nothing to worry about. As there will be no credit check (when you pay monthly, you are essentially lending the money for the insurance, so is treated as a loan). The only check there will be is a soft check, basically checking address, identification, etc. Everything will also stay in your name only this way :smile:

Reply 6

FRS500

For all insurance applications it is a soft check for identity verification.

For monthly insurance it will include a hard check too. Because you'll be borrowing money on a credit plan to pay for the insurance policy.

Usually it's Close Brothers Finance who do it. But it's a proper finance agreement as if you default on your insurance payments, CB will cancel the agreement and you still owe them. (They've paid the insurers in full already)

And obvs the loan is secured against the policy which is why your policy is cancelled (on the finance house's instructions)

Reply 7

IWMTom

Original post by Kitty900

I stupidly got myself a cifas marker meaning I most likely won’t be accepted for car insurance anyway so I’d just get my mum to do it for me but of course I’ll give her the money.