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Motor Insurance


buckthorn
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Why when insuring my car why would the insurance company

need to know my credit rating?

 

More your credit record to check identity. But they also use it to decide whether tp offer monthly payments and some use it for underwriting purposes as debt defaults might suggest a higher risk. But it is mainly identity and payment related.

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I just could not understand why they wished to have this information, as I was paying

the whole lot in one go, and even if I was paying monthly if one of those months

my account failed to pay, the insurance would be come null and void any way.

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