How to Get an Insurance Quote

Quick Answer

You can get an insurance quote by requesting one from an insurer, working with an agent or broker or using an insurance search tool and providing the requested information.

Insurance broker shows their client a breakdown of their quote on a desk

When shopping for insurance, it can be a good idea to get several quotes so you can compare policy coverage and prices. To get an insurance quote, you'll contact a provider or broker and submit requested information such as a home address and vehicle information. A quote will be provided, sometimes in as quickly as a few minutes.

What Are Insurance Quotes?

An insurance quote is an estimate of the premium you'll pay for an insurance policy, based on the information you've input. It may also include information about the deductible, items insured and payment schedules.

Insurance quotes are only as accurate as the information you provide. You'll want to make sure you give up-to-date information about your health, home or car. This assures you get quoted an accurate price for accurate coverage.

What Affects an Insurance Quote?

Insurance quotes, or the assessment of the cost of a policy, are based on many variables. Your insurer will ask questions about the item being insured to understand any risks associated with that. Then they will base their quoted amount on these potential risks.

Different types of insurance will consider different factors to calculate risk. Some of the following may impact the price an insurer provides on your quote.

Homeowners Insurance

Factors impacting homeowners insurance may include:

  • Home address
  • Home size
  • Year built
  • Pets
  • Fencing
  • Home materials
  • Acreage

Auto Insurance

Factors impacting auto insurance may include:

Health Insurance

Factors impacting health insurance may include:

  • Height
  • Weight
  • Tobacco use
  • Pre-existing conditions

When getting a quote for insurance and finalizing your policy, make sure to accurately report any of these factors. An inaccurate report could invalidate your policy when you try to make a claim.

How to Get an Insurance Quote

Follow these steps to get an insurance quote:

1. Gather Necessary Information

You'll need identifying information such as your full name and date of birth, as well as any information necessary for the specific type of insurance, such as car make and model, home size and so on.

2. Estimate How Much Coverage You Need

While an insurer will help to confirm how much coverage you need, estimate the amount for yourself too.

For example, when purchasing your home insurance you'll want to estimate enough to rebuild your home and replace your personal belongings. Consider any high-price items you own that may not be covered under a traditional allotment for personal belongings. Also, consider any specialty building materials that would make rebuilding your home to the same specifications more expensive.

Similarly, when buying car insurance, think about how much property damage and bodily image coverage you should really carry. Some states require only low or even no liability insurance, which is unlikely to cover medical bills in the event of a serious accident. Consider purchasing higher coverage policies when you can.

3. Consider an Insurance Comparison Tool

Some sites aggregate quotes from multiple insurers so that you can compare policies all in one spot. This can save you time and effort. One example is Experian's auto insurance comparison tool. This tool can help you compare your current auto policy with policies from over 40 top providers in as little as a few minutes.

4. Search for an Insurer or Work With an Insurance Professional

You can find an insurance provider you are interested in purchasing a policy from by searching online. You may also use an agent or broker. Insurance agents generally work for one or two insurers and can help you sign up for one of their policies. Brokers, on the other hand, can help you find and sign up for policies from a wide range of insurers.

5. Submit Required Information

You'll need to provide some identifying information for insurance quotes, such as your ZIP code, gender, date of birth, Social Security number and contact information. Each type of insurance may also require some specific information, like the make and model of your car for auto insurance.

6. Review and Compare Your Quotes to Pick a Policy

Once you receive quotes from several insurers, you can compare coverage limits and prices. Opt for the best coverage at the most affordable price.

The Bottom Line

Getting an insurance quote is the first step to purchasing a new policy. Though it may feel time-consuming to submit requests for multiple quotes and compare the policies, seeking multiple quotes is a good idea. Using resources like comparison tools or insurance brokers and agents can help make the process smoother and can make certain you find the best price.

If you're in the market for a new car insurance policy, consider Experian's auto insurance comparison tool which can help you get quotes in minutes. Compare, save time and get peace of mind that your potential savings are some of the best out there.