How do I Compare Insurance Quotes?

Article Details
  • Written By: Carol Francois
  • Edited By: Bronwyn Harris
  • Last Modified Date: 03 February 2020
  • Copyright Protected:
    Conjecture Corporation
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In order to compare insurance quotes, it is important to make sure that all the quotes are for exactly the same coverage. Insurance coverage is the type of loss protection that you are purchasing. Insurance covers the costs incurred due to accidents, theft, or specific types of property damage. An insurance quote is provided by the insurance company and has the pricing details, payment schedule and a list of what is covered. Insurance coverage costs can vary significantly between service providers, so it is important to compare insurance quotes before selecting an insurance company.

An average of three quotes from different insurance companies is recommended. There is no cost associated with obtaining insurance quotes and many companies are happy to provide them via the Internet. Set aside time and a clear desk space to compare insurance quotes in detail.

Compare the personal information about you and your property on each quote to ensure that it is accurate. Check the length of the contract and the total annual payment amount. If insurance premiums are taxable in your area, make sure that this amount has been included. Read carefully to find any additional fees that may be hidden, such as application or broker fees. Include these amounts in the overall insurance cost.


Make a list of all the different types of coverage included in the most expensive quote. Create a chart with the other two insurance company names at the top. Compare the insurance quotes against the most expensive company to see what has been added or removed.

Look at the coverage provided and determine what type of coverage suites your needs best. Remove coverage groups that you do not need and make sure that the details of each item are consistent across all the quotes. Check the rules surrounding changes in your policy, when they would be applicable and how they would be processed.

Many people purchase too much insurance, as they do not take the time to compare insurance quotes. If you have no dependents and are single, there is no need to purchase a large life insurance policy. The purpose of life insurance is to replace your income stream to your family after your death. If you have no dependents, this coverage is not necessary.

Check the company’s complaints policies and review the customer service records. Make your selection based on the best combination of price, quality, and service. The cheapest insurance is not very valuable if they have a poor customer service record and take an extended period to resolve any claims.



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