What Information Do I Need for an Auto Insurance Quote?

Various surveys suggest that motorists have many misconceptions about shopping for better rates. They believe that it is too complicated and time consuming to get a few quotes and compare them to find the best deals. We have already covered how long does it take to buy car insurance? You can hardly say sparing an hour to save a few hundred dollars is too long. Let’s have a look at the things you may need to speed the process of getting vehicle insurance quotations.

Companies will need a few details in order to give you an accurate premium estimate. Knowing what is needed can speed the process and knowing why they are required can help you understand how are premiums determined? They are mainly divided in three parts. They want to know about the drivers and cars to be insured as well as your past and current coverage.

Some providers or agents may ask your SSN to check driving and credit records and give you a firm price. However, most insurers don’t need sensitive personal information like social security or license number just to give you a quote. They assume that you will answer them accurately to the best of your knowledge. So, you can stop if you aren’t willing to provide what they asked and find another platform that doesn’t need it. We can help you find those carriers. 

=> Information on Drivers to Be Insured: First of all, they want to know your and other drivers’ personal details like name and date of birth. You will also need to know about their history. You need to know if any of them made a claim or had a ticket in the last three years. Usually, they want to know about everyone who has a license in the household. You can also list someone who doesn’t live with you if he/she has regular access to it.

The premium will be negatively affected if any of them have adverse records. On the other hand, they may actually reduce it if they are older than you and have better records. So, you may want to consider excluding a driver with bad record and check if it is allowed.

=> Details of the Car: Some proposal forms can automatically find particulars of it from its vehicle registration number. In any case, you should check that those are correct and you don’t need to add anything else like recent modifications. You need to advise them of any modifications.

And you will need to answer questions like how many miles a year and for what purpose you travel. Most people use their cars for pleasure and commute. Usually, pleasure use is cheaper. And you may need to pay more for a personal policy to include some business use and if you travel much longer than the national average of 12,000 miles per annum. Furthermore, there may be questions about security and safety features of the auto. They would want to know if you have a loan on it to determine if anyone needs to be included in the policy as an interested party.

=> Information About Past and Present Coverage: Normally, companies want to know if you have had a lapse in automobile insurance in recent years. A lapse is frown upon and can increase rates. Most of them want to know who they are up against and that is why they ask who is the current carrier.

Then, they want to know if you made any claims in the last three years. Most companies enquire about the last three years but some may want to know about the last five years. They usually can find out about cancellation and non-renewal of policies. Especially a cancelled policy will probably negatively affect a quote.

=> Other Details: There are a few more commonly asked questions on proposal forms. These are credit score, home ownership, marital status, profession and social security number. Credit score affects rates more than most people anticipate. There are a few more pages on similar topics here, if you want to read further.

It is probably best if you prepare a few things beforehand. Another post on this website offers answers to what documents do I need to get auto insurance? You can read it when you are ready to make the purchase.

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