Listed are some common questions on insurance forms and overview of what insurance companies are looking for. Each company has their own underwriting department, another big reason to comparison shop as many insurance companies as possible. It doesn't hurt to know which answers will cost you and which won't. You want to answer them as truthfully and as " brief " as you can.
Beside the regular name, address, age etc. You'll be asked you SSN (Social Security number)
and VIN (vehicle identification number). You want to have those two numbers available,
without them, the insurance company will be unable to obtain your claims history, and
without that, they won't activate your policy. I've had people talk themselves into higher premiums or rejection by volunteering information that would not have been asked. Have you asked someone the casual question, "how are you doing today" and they tell you, for
the next 30 Minutes. How Much Coverage Do You Need? If you have over $200,000 in assets, you want to consider an umbrella policy that covers anyone injured in your house or car up to $1 million or more. Chances are you don't need coverage such as medical payment, rental car insurance and emergency replacement. Such costly "add ons" are often redundant. Many insurance companies offer these extras. Also many will drop or raise your premium if you make a claim on such coverage. Are You Married? Do You Have Any Roommates? How Many Miles a Year Do You Drive? Have You Had Any Accidents or Moving Violations in the Past Five Years? Speeding will cost you more than the ticket. "Speeding tickets to an Insurance company are a indicator of future accidents, "the insurance company might let one ticket slide, depending on how fast you were going. They would rather see someone going 80 mph in a 70 mph zone than someone going 55 mph in a 25 mph zone. Actuaries (Super Bean counters again) are human, each one has their own thinking process within their guide lines and is another big reason to get auto insurance quotes from as may different companies as possible. One thing to remember is that most insurance companies "look back" from 3-5 years. If you had an accident or other violations, well keep quiet about them. Have You Made Other Damage Claims Other Than an Accident? When you apply for a new policy, an insurance company will some times order a CLUE report to check out your record. Three or more qualify you as a bad risk. If you want to see your CLUE report go to www.choicetrust.com Click on "Home" on the main menu and choose "Insurance Claims" A link at the bottom of the page allows you to download an application from titled "Request for Choice Point Consumer Reports. Send the completed form along with an $8 check. If you disagree with the information in your report, call (888) 497-0011. |
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