Earlier in our blog, we explained the concept of insurance quote here. According to this, one can simply understand that an insurance quote is based on the risk level of the person or the item that is being insured. As the risk level increases, the insurance quote goes up.
So, as insurance quote is based on your risk level, while getting an insurance quote, you have to give the type of information to the insurer which will help measuring your risk level.
Here is the list of items needed to get an insorance quote for different insurance branches:
Life & Health Insurance
The insurance agency that you are working with will probably direct similar questions to you both for getting a life insurance and a health insurance. This information may be quite personal so, you better get comfortable with telling about private issues about yourself. The questions may be about;
Your Prior Health History
If you are about to buy a life or health insurance policy, the insurer or the insurance agency will be highly interested in your health history. Your health history covers your chronogical ilnesses or the frequency that you get usual ilnesses such as getting a cold. If you have a chronogical ilness or if you are visiting the hospitals very often, you may get a very high insurance quote for your life insurance and health insurance.
Your Present Health Condition
For the insurer that you are about to work with, your current health condition matters as much as your health history. In this sense, the insurer will try to figure out your likelihood of getting sick in the future. Based on the insurer’s risk analysis, the more likely you are about to get sick in the future, the higher insurance quote you will receive. Which means, you will pay more for your life insurance or health insurance as you are more likely to catch a sickness in the future.
Your Financial Condition
The insurer will evaluate you based on your financial condition. Depending on how stable you are financially, the insurer will settle the coverage of your insurance policy. As the coverage of your insurance policy gets higher, your insurance quote will go up.
Car / Auto Insurance
Before you decide getting an auto insurance quote, you better get ready for the list of information listed below. Based on these information, you can figure out your riskiness from an insurance perspective and calculate an average amount for your insurance quote.
Your Driving History
Just like you give your health history for a life insurance policy or a health insurance policy, you need to share your driving history for a car insurance policy. The logic is the same; the insurer wants to find out if you are carrying a high risk of getting involved in an accident or not.
Your Age & Sex etc.
These can be summarized as your personal information on your ID card. The information such as age, sex etc. are asked by the insurer for almost all insurance policies as they may be an important effect in your risk level.
The Brand & Model and Condition of Your Car
Your car itself is the main factor during creating an insurance quote. If you have a Premium car, you are going to pay more for your insurance as it will be more costly for the insurance company to repair your car during a potential accident.
While getting an insurance quote for an homeowners insurance policy, the risk evaluation for your policy will be considered based on your home. So, before taking an offer, you better learn more about your house.
You are highly likely to come across questions like the age of your apartment, the material that it is built of, location and etc. These questions may be about anything and everything about your house.
In addition to this, if you want to get your furniture insured as well, you need to calculate an average worth of your furniture. Your insurance quote will increase with increasing value of your furniture.