What Information is needed for an Insurance Quote?

What Information is needed for an Insurance Quote?

April 01, 2024

Securing insurance coverage is a crucial aspect of financial planning and risk management. Whether it's for your car, home, life, business, or any other valuable asset, obtaining an insurance quote is the first step towards safeguarding your peace of mind. However, the process can seem daunting, especially if you're unsure about what information is required. In this blog post, we'll simplify the process and outline the key pieces of information needed to obtain an accurate insurance quote.

Personal Information

  • Name: Provide your full legal name.
  • Date of Birth: Insurance companies often use age to assess risk.
  • Address: Your location can impact your premiums 
  • Contact Information: Include your phone number and email address for communication purposes.

Above are the basic pieces of information you'll need in order to start the quoting process. Next, we'll dive into more detail about the specific items of information agents need to secure a certain policy for you.

Auto Insurance

If you already have auto insurance, then you have a declarations page. This is a summary of your current coverages, deductibles, policy period dates, vehicles and driver list. We advise having your current policy in hand when requesting a quote because it will likely provide information needed when going through this process. Below is additional information that is regularly needed when shopping for insurance.

  • Dates of birth
  • Social Security numbers
  • Driver's license numbers for each family member who will be on the policy.
  • Garaging address
  • Vehicle Identification Number (VIN #) for all vehicles that will be listed on the policy. 
  • Driving History: this is a summary of past driving records such as tickets, violations, or accidents. 
  • More background: We will ask about whether you rent or own your home, and a bit about your assets and income. This information can be helpful as you choose your liability coverage limits.
  • Requested coverages.

Homeowners/Renters Insurance

When obtaining a homeowners insurance quote, you'll usually need to furnish personal details like your date of birth, marital status, and Social Security number, along with the address of the property you intend to insure.

Home Details (for Homeowners/Renters Insurance):

  • Construction details: Material used, age of the property, square footage, and number of stories.
  • Roof age
  • Safety features: Information about security systems, smoke detectors, and fire alarms.
  • Any custom home features, updates or renovations.
  • Pets or livestock
  • Any high value personal property such jewelry, guns, art, etc.
  • Prior property coverage details.
  • Mortgage information.
  • Claims history.

Life Insurance

Along with basic identifying information, the agent may ask about:

  • Health history: 
    • Do you have any chronic conditions? The insurance company's underwriting department may also ask you to authorize the release of your medical records.
  • Insurance goals:
    • The agent will likely ask about the purpose of the life insurance policy. Would it be used to pay off your mortgage in the event that you pass away? Replace your income until your spouse can collect Social Security? Help pay for a child's college education? You'll want to consider what you want the coverage to be used for when determining the type and the amount of coverage that's right for you.
  • Income and assets: 
    • This financial information is used, along with your insurance goals, to help you determine your ideal amount of coverage and length of the policy's term.

  In summary, obtaining an insurance quote doesn't have to be overwhelming when you're armed with the right information. By providing accurate details about yourself, your assets, and your coverage needs, you can receive quotes that align with your budget and risk tolerance. Remember, transparency is key, and it's essential to update your information periodically to ensure your coverage remains adequate. Whether you're shopping for auto, home, life, or any other type of insurance, being well-prepared will streamline the process and help you make informed decisions about protecting what matters most. Contact us today to start the process of securing policies that protect what matters most to you!