Owning Multiple Cars Without Insurance
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When you are trying to find motor insurance and have poor credit, then in most circumstances this won't affect the motor insurance fee that they charge you.
Nearly all motor insurance providers are only interested in your motoring history, for example, if you have convictions and the number of years without a claim etc.
That is the way in which the insurers determine your individual premium, by examining your driving record.
Your financial history is not of any significance to them as long as you are able to pay the monthly premium.
The one difference might be that the insurer could insist that you pay the whole premium all up front as opposed to allowing you a monthly automatic deduction alternative.
You should note that nearly all car insurance providers - similar to home insurers - perform searches on your financial report. Nevertheless, this is purely for the prevention of fraud which they do on a regular basis for all applicants. The check will verify who you are. As an example, the insurer can determine that you are recorded as staying at the same residence that you had mentioned on your motor insurance proposal form.
Credit checks such as these will not have an effect your credit score down the road.
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