What information needed for insurance (auto; home; liability) quotes

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delamer
Posts: 3622
Joined: Tue Feb 08, 2011 6:13 pm

What information needed for insurance (auto; home; liability) quotes

Post by delamer » Tue Oct 24, 2017 6:46 pm

After five changes in our local agent instigated by the corporate office in 3 years, we are ready to move on from State Farm.

We have four auto policies (four different primary drivers), one homeowner's policy, and one umbrella liability policy.

As we contact other companies for quotes, what information do we need to provide to get accurate prices? I know we'll need to provide information on preferred deductibles and other policy provisions. And obviously, year, brand, model, and mileage on the cars. But what else? What specifics on the drivers?

We already have a list of companies to contact based on other Bogleheads threads, so please don't derail this thread with recommendations on specific insurers.

Thanks.

PFInterest
Posts: 763
Joined: Sun Jan 08, 2017 12:25 pm

Re: What information needed for insurance (auto; home; liability) quotes

Post by PFInterest » Tue Oct 24, 2017 7:20 pm

they will want to know if anyone has accidents.

random_walker_77
Posts: 479
Joined: Tue May 21, 2013 8:49 pm

Re: What information needed for insurance (auto; home; liability) quotes

Post by random_walker_77 » Tue Oct 24, 2017 9:23 pm

They're probably going to want basic info like age, gender, # years of driving experience, accident history, continuity of insurance coverage for last x years.

For homeowner's, some structural details like type of siding/roof, # of bathrooms, attached/detached garage etc. Age of house, age of roof, distance to fire hydrant and fire station.

Usually, every ~3 years, I'll take my policy coverage summary sheets, sharpie out any sensitive info, and email that to everyone I want a quote from. This is way easier to filling out every company or agent's forms/questionnaires, and it's probably easier for them too. For online places that get you multiple quotes, once contacted by any agent, I ask them for their email so that I can send them the cover sheets, and almost no one has turned me down to doing it this way for the chance to win my business.

carolinaman
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Joined: Wed Dec 28, 2011 9:56 am
Location: North Carolina

Re: What information needed for insurance (auto; home; liability) quotes

Post by carolinaman » Wed Oct 25, 2017 7:22 am

I am going through that process right now. I have talked to 4 companies so far. Have a copy of your policies handy as you talk to companies for quotes. Once the companies properly identify you, they have access to a lot of information about you online. There was some variation in questions from the companies, but you will likely know the answers.

michaeljc70
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Joined: Thu Oct 15, 2015 3:53 pm

Re: What information needed for insurance (auto; home; liability) quotes

Post by michaeljc70 » Wed Oct 25, 2017 11:30 am

You are probably going to need the driver's license numbers and maybe the ssns for all the drivers on top of other things mentioned.

Yankuba
Posts: 58
Joined: Wed Dec 07, 2016 10:45 am

Re: What information needed for insurance (auto; home; liability) quotes

Post by Yankuba » Wed Oct 25, 2017 11:34 am

You may want to unfreeze your credit if you shop for auto insurance. I froze my insurance and shopped around recently and everyone wanted 3x what I am paying now. I assume I am getting beat up because they can't see my credit and they are assuming the worst.

"The first thing you should know is that if GEICO does obtain a credit-based insurance score as part of calculating your insurance quote..."

https://www.geico.com/information/credit-use-faq/

"Many U.S. car insurance companies use credit-based insurance scores to help determine risk. (Unless you live in Massachusetts, Hawaii, or California, where the practice has been banned.)"

https://www.esurance.com/info/car/myth- ... rance-rate

delamer
Posts: 3622
Joined: Tue Feb 08, 2011 6:13 pm

Re: What information needed for insurance (auto; home; liability) quotes

Post by delamer » Wed Oct 25, 2017 12:47 pm

Yankuba wrote:
Wed Oct 25, 2017 11:34 am
You may want to unfreeze your credit if you shop for auto insurance. I froze my insurance and shopped around recently and everyone wanted 3x what I am paying now. I assume I am getting beat up because they can't see my credit and they are assuming the worst.

"The first thing you should know is that if GEICO does obtain a credit-based insurance score as part of calculating your insurance quote..."

https://www.geico.com/information/credit-use-faq/

"Many U.S. car insurance companies use credit-based insurance scores to help determine risk. (Unless you live in Massachusetts, Hawaii, or California, where the practice has been banned.)"

https://www.esurance.com/info/car/myth- ... rance-rate
You know, even though I am aware of this practice (and we have excellent credit), I had not thought about the credit freeze issue. And we just did the freezes in a few weeks ago...


Thanks to all who weighed in.

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