Credit check?

by Karen
(Toronto, Ontario)

If I am added on my dad's insurance, do they do a credit check on me?


Answer: Insurance and Credit

If your dad's insurer is doing credit checks, and you are added to the policy, your credit will be checked eventually.

Credit checks for insurance rating is becoming a common occurrence with many carriers. There is not a consistent approach yet.

Some insurers are not checking credit at all while others are doing it up front for every application. If your dad's insurer is using credit scoring to determine rates they would likely check your credit at renewal.

What the insurers are doing with the credit checks is not yet uniform either. Some take away discounts, which raises the rates, while a few are going so far as to not renew insured's with poor credit.

Take care

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Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.

Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

Please Read

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