HOW TO GET Renters Insurance Without Credit Check in 2022?

Last Updated: 20 January, 2022

Unfortunately, people believe that lying to their insurance provider is the only way to save money. Will you get renters insurance without credit check? Lenders examine your credit score when you apply for a credit card or a loan because they want to be sure you’ll be able to pay back the money you owe. As you must have guessed, that’s not the right thing to do or the right way to go to get discounts. Therefore, lying to best home insurance companies may have serious repercussions. And boy, you want to deal with these consequences! Additionally, doing so might even cost you more money rather than saving! 

Since April 30th is just two days away, the timing of this insurance blog is perfect to remind you of National Honesty Day. So, we’ll clarify why you should not lie to your insurance broker, and rather be completely honest with them. Likewise, take some time out to read our blog on does renters insurance cover business property? Get a better insight.   

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Repercussions of Lying to Your Insurance Company to Get Renters Insurance Without Credit Check  

1. Policy Cancellation 

If your homeowners insurance company discovers that you have lied, they can cancel your policy anytime. Moreover, they can do the same even when you withhold important details and information. According to Experian, when you apply for insurance, the first thing insurers want to know is how much of a coverage risk you pose. Furthermore, they’ll consider you as a high-risk individual, which may lead to increased future premiums. Likewise, they’ll also deny you any benefits receivables and restrict your coverage choices. 

  1. Refusal of Claims

If your insurance company in Walton County encounters deception after you file a claim, they can deny your claim too. Hence, you must be honest not only while getting insurance quotes but also while filing claims. We highly advise you to stop misleading or hiding information from your insurer or insurance agent. 

renters insurance without credit check
  1. Increased Premiums

Increased premiums are another consequence and the one that is most likely to happen. If your insurer discovers that you lied to them about anything at all, they will increase your premiums. Moreover, if you try to switch the insurer, they will label you as a high-risk customer. Hence, this will make it impossible for you to obtain insurance at a reasonable price elsewhere. The reason is that insurance companies have a network at the state insurance board and other related departments. As a result, they share a database that helps them keep eye on the type of clients (you) they are dealing with. 

  1. Criminal Penalties

If all the consequences listed above have not scared you enough, this one surely might. Yes, your insurance company can charge you with fraud for lying to them or hiding information. For cases that involve an amount greater than $5,000, the law states that insurance fraud is indeed, a federal crime. Hence, it is punishable by incarceration if convicted. 

However, understand how to become insurance agent and seek advice from reputable independent insurance brokerage firm. You will be able to become insurance agent as well as become insurance producer with their assistance. 

Frequently Asked Questions

Is it possible to obtain renters insurance without a credit score?

Only a few states allow you to purchase renters insurance without a credit check. To receive renters insurance, most people will have to pass a credit check.

Is it true that renters insurance appears on a credit report?

The insurance provider does a soft query, or soft pull, of your credit record when you apply for renters insurance or any other type of insurance policy. The soft draw does not appear on your credit report and has no impact on your credit score.

Is your credit checked by Insurent?

Credit ratings are unaffected by insurance quotations. Even when insurance firms examine your credit throughout the quote process, they do it with a soft pull, which is not visible to lenders. You can receive as many credit inquiries as you like without harming your credit score.

What role does your credit score have in insurance premiums?

Interest rates and loan eligibility are determined by credit ratings. Credit-based insurance scores, according to the Insurance Information Institute (III), don’t take into account your work, income history, gender, or any other personal information.

best home insurance companies atlanta
best home insurance companies atlanta

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