What Does It Mean to Get an Insurance Quote?

An insurance quote is an estimate of what your rate could be with a potential insurance carrier. Quotes are subject to change depending on how much information you give at the time of the quote. The more forthcoming you are with information, the more accurate your insurance quote.

How Long Does It Take to Get an Insurance Quote?

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Getting a single quote should not take much of your time, but several factors can affect the amount of time it takes to get an insurance quote. How many drivers and vehicles do you have? Where are you getting your quote? The answers to these types of questions can impact the amount of time it takes.

Calling an insurance agent: You can expect to spend five to 10 minutes giving an agent your information. Then, the agent will typically call you back with a quote. The call back time can vary from within the hour up to several hours.

Your call will likely be returned on the same day unless you called late in the day. The return phone call will probably take an additional five to 10 minutes, depending on how many questions you have about the information given to you.

Getting a quote online: Many online insurance companies are able to provide a quote in 15 minutes or less. However, this could vary. Getting an online quote requires a lot of detailed information in order to be accurate.

How Many Car Insurance Quotes Should You Get?

Three to five insurance quotes should give you a good look at what is available.

Tip

When it comes to getting multiple quotes, consider working with an independent agent. Independent agents sell insurance through multiple insurance carriers.

An independent insurance agent will be able to check with each of its insurance carriers and give you their best rate. Ask the agent which companies they quoted you through so you do not get duplicate quotes when calling around.

Several online insurance websites give you the opportunity to get quotes from multiple insurance carriers, too. You only need to input your information a single time to get quotes from several carriers. Getting multiple quotes at once is a huge time saver, regardless if it is from an agent or online.

How Should You Select the Best Car Insurance Quote?

Most people pick the best insurance quote based on price. You may also consider the agent's efficiency when it came to getting the quote and explaining the information. If you are going the online route, how did you like inputting all of the information on your own? Do you feel comfortable with all the insurance terminology?

However, one of the most important factors is whether or not the quote has the coverage you need and want. Car insurance isn't worth much if it doesn't provide you with the protection you need when you need it.

Tip

When you are getting quotes on car insurance have each company run the quote a similarly as possible. This is the only way to find out which carrier has the best price for you.

How Often Should You Get Car Insurance Quotes?

How often you get car insurance quotes depends on a few factors. If you love your insurance carrier, you may feel content to stay with the same company for the long term.

But sometimes, enough is enough when it comes to price. If your car insurance premium increases significantly renewal after renewal, it is probably time to start inquiring about new insurance quotes.

You can re-shop your car insurance rates as often as you want, but every few years is usually sufficient—unless something is happening to make you unhappy with your current carrier.

Getting quotes will give you the information you need to make sure you are still receiving a competitive rate. If the price difference with the new quote is only a little bit cheaper, you should probably stick with what you have.

Insurance rates are always changing. Checking around for car insurance quotes could potentially save you hundreds of dollars.