Shopping for auto insurnace policies

by shaileshgongal » Thu Jan 03, 2008 03:52 pm

I am shopping for auto insurance to get a competetive rate.

My question is why do insurnance companies ask for copies of the policies from the previous company(existing) when we ask them to quote a price?

Total Comments: 4

Posted: Fri Jan 04, 2008 08:33 am Post Subject:

why do insurnance companies ask for copies of the policies from the previous company(existing) when we ask them to quote a price



This may be to check that you are carrying the proof of financial responsibilities.

This is to check that you were regular in premium payments and policy is in force.

This is to compare the cost and offer you more accurate quotes.

Posted: Fri Jan 04, 2008 03:12 pm Post Subject:

Part of the prior post may be right, they will need to know that you did have insurance, what they 'should' be looking at it for is to compare coverages, limits and deductibles to make sure they are quoting the exact same coverages/limits and deductibles to you...apples to apples....:)

Posted: Fri Jan 04, 2008 03:32 pm Post Subject:

Keep an eye on the coverages yourself, mine was supposed to be comparable and I later found out that my coverage was not what my old coverage was.

Hey Lori, My new policy took affect and there is not a whole lot of difference in the premiums, just like $1.38 a month, this makes no sense at all, because the balance owed it higher, I did the math and it works out right. This is just goofy to me, it should have been like $20 higher.

I wanted to thank you for all the good information, I thought I had a while for my renewal, but it is in affect now. I had my dates screwed up.

Posted: Sat Jan 05, 2008 09:18 am Post Subject:

Hey Lori, My new policy took affect and there is not a whole lot of difference in the premiums, just like $1.38 a month,

WHO-RA!!!

I wanted to thank you for all the good information, I thought I had a while for my renewal, but it is in affect now. I had my dates screwed up.

I'M VERY GLAD!!

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