by Guest » Wed Oct 21, 2009 09:37 am
What information does an auto insurance carrier seek in an
applicant? What are the different financial reports that they
usually consult with?
applicant? What are the different financial reports that they
usually consult with?
Posted: Wed Oct 21, 2009 07:02 pm Post Subject:
The most common information gathered to generate a quote for an applicant for an auto policy is as follows:
Drivers: date of birth, sex, marital status, state and months licensed, and driving record. Many carriers also use credit information in their rating, therefore, they may ask for a social security number.
Vehicles: Year, Make, Model, usage (to and from work, pleasure, business, etc)
Does the insured have prior insurance? own a home?
and they will evaluate coverage needs.
The above list is only the most common information. Companies can get much more specific than this, for instance, they may ask if currently employed, ever file bankruptcy, miles to work, who is the primary operator of each vehicle, miles on the vehicles, information to be eligible for student discounts or defensive driving discounts, etc etc etc
Posted: Thu Oct 22, 2009 07:29 am Post Subject:
How does things like marital status and car model affect their evaluation?
Posted: Fri Oct 23, 2009 11:34 am Post Subject:
What are the different financial reports that they usually consult with?
They might run an MVR check. They'll obtain this data from the state records. They'd come to know of any tickets that you may have been charged with (for a specified period).
Posted: Sat Oct 24, 2009 06:38 am Post Subject:
The accidents that you've been involved with will be reflected in the MVR.
You will need to provide your carrier with a police report. Doing this will support you whenever you're not at-fault.
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