Does Car Insurance Build Your Credit?

  1. 910 POINTS
    Ken Boncela
    Ageny Owner, Farmers Insurance, Ken Boncela Insurance & Financial Services, Oswego, lllinois
    Generally no.  Insurance companies do not report the payment of your insurance premiums to credit bureaus.  One caveat however to be aware of.  If you lapse or cancel a policy and earned premium is due the insurance company for coverage provided and yoo don't pay it, the earned premium may be turned over to collection and the unpaid debt reported to the credit bureaus.
    Answered on April 23, 2013
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