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Will adverse action notice/getting dropped from an insurance plan cause lower credit score in IL?
I understand that adverse action notices sometimes result from low credit scores. What I'm asking is if getting this notice/getting dropped from an insurance plan will cause a credit score further detriment.
Thanks
3 Answers
- bdancer222Lv 78 years agoFavorite Answer
Insurance has no impact on your credit. Insurance companies do not report to the credit bureaus, although they do use credit reports/scores to determine insurance rates.
- ?Lv 78 years ago
No, if you have adverse action from an insurer in the way of higher premiums or decline to insure you it is because of your credit, but it does not affect your credit report
- CatDadLv 78 years ago
Insurance is not a debt. You are paying for coverage. If you are dropped your coverage will end....it's does not affect your credit.
