Preparation is key when searching for car insurance. You will need to give the insurance company some basic information about you, regardless of whether you apply online or offline for a quote. Although the questions you are asked will differ from one insurer to another, there are certain factors that all insurance providers consider when calculating your premiums. This information is required by insurance companies to accurately assess the risk that you pose to them. An insurer will use the information to determine the likelihood of an accident and how likely it is that you will pay your bills on-time.
These are 13 things that any insurance company must know in order to give you a quote.
- Your driver’s license number. It is illegal to drive a vehicle without a permit. Your number is used by insurance companies to verify your identity and verify your driver’s licence status.
- Your social insurance number. This number is used to verify identity and for credit checks.
- Your vehicle’s ownership status.
- The make, year, and VIN numbers of the vehicle. These details can be found on your vehicle’s title.
- What the vehicle will be used for?
- Credit history. Insurance companies look at your credit history to determine how well you’ve been able meet your financial obligations. An insurance company will consider your credit score a risky one.
- Choose the type of coverage that you want. State-required liability provides the most basic coverage. You are only liable for the other driver if you are at fault in an auto accident. To be compensated for any losses or damages you may have, you will need additional coverage. It is important to know whether you have comprehensive, collision, and uninsured motorist coverage.
- Zip code. Ever wonder why online quote boxes start with the zip code? This is because it’s one of the first things that car insurance companies use in determining your rates. There are many reasons why location is important. You will have higher rates if you live in an area with a high number of crimes, accidents, and break-ins, than if your area is statistically safer.
- Your marital status. Getting married can lower your insurance costs.
- Your age. Drivers who are younger are more likely to get into an accident and are therefore charged higher rates.
- Driving record. You might be asked about traffic accidents or moving violations. Don’t withhold any information. Insurance companies will follow up on all your answers and can’t tell if there has been an incident. According to the old saying, honesty is the best policy.
- What is your current auto insurance coverage? It may be necessary to disclose how long you have been an active customer with your insurer. It may be necessary to know what your policy covers. Insurance companies can verify your information, just as they can with your driving record. It’s best to tell the truth upfront if your insurance policy has expired. If they believe you have given misleading or dishonest information, any insurance company may deny coverage.
- The policy deductible. You will need to determine how much you can afford to cover a claim before your insurer pays. Your annual premium will be lower if you have a higher deductible.
- Your phone number and email address. These two pieces of information can be used to contact your when you apply online for a quote. You will not be added to any mailing lists and only licensed agents will contact you.
It can be difficult to find a car insurance policy online, especially if you don’t have all the required information. This list will help you be prepared to apply for your next policy.