7 documents you would like once shopping for insurance on-line

7 documents you would like once shopping for insurance on-line

Car insurance corporations prefer to get personal. once shopping for coverage on-line, you are asked for all types of non-public data. to form it easier, here's the documentation you must wear hand before you start to match insurance corporations and rates:
1. Driver's license
This is obvious -- insurers, of course, want to know if you can legally drive. The license number you provide also lets insurers check your driving record, including any moving violations that could trigger higher car insurance rates. The same applies for any other drivers in the household that may be on the policy. Besides the driver's license number, be prepared to provide the age at which each driver received a license.

Beyond your legal driving status, Penny Gusner, the consumer analyst for Insure.com, says that companies typically review your traffic violation convictions, all accidents and car insurance claims over the past five to seven years.

She recommends reviewing this information so you'll be sure an insurer has accurate facts. "If you can't remember specifics, get a copy of your driving record (from the DMV) and claims history (your insurer will have this) before shopping," she says.


2. Vehicle information notes
Insurers want to know details about the car, starting with the make and model. You'll also need the vehicle identification number (the VIN can usually be found on a label inside the driver's door and sometimes inside the driver's side windshield) and annual mileage.

3. Registration and lender information
Car insurance companies also want to know if the car is owned, leased or financed and the name it's registered under, so you should have your registration handy as well as any car loan paperwork.

4. Social Security numbers
Insurers need this for the primary policyholder and any other drivers included in the coverage. Besides confirming identity, the numbers help to determine someone's credit history, which figures prominently in setting premiums. Though car insurance companies calculate and use their own credit score for drivers, your credit history plays a role in the process. The Insurance Information Institute (III) notes that those with strong credit ratings are likely to snag lower premiums because the insurer will assume they're less of a risk and can pay bills on time.

5. Banking information
As part of the credit check, auto insurance companies will probably ask for banking, checking or credit card information. The details also alert insurers if you have a history of late payments or other financial difficulties. Again, this will be used to determine how risky you might be and what a policy will cost.

6. Your current policy
Gusner says it's smart to pull out your existing policy (especially the declarations page) to use as a reference guide. It can remind you of what you like (and don't like) about your coverage and what gaps you might want to fill so there aren't headaches if you have an accident. And did you qualify for discounts with your old coverage? That's another useful reminder to help ensure you're getting the best rate possible.

"You want your current policy available so that you can compare apples to apples (same coverages, limits and deductibles) and determine if there are better rates out there than what you're presently paying," says Gusner.

7. Your notes about potential insurers
It's a good idea to do some research on which insurers to consider before you get to the point of submitting documentation for quotes. Use these suggestions and take notes during the research so you'll be as confident as possible that your final choice is dependable and financially sound:

Check with your state's department of insurance. You can typically find out how many consumer complaints an insure has by visiting the website of your state insurance department.
Determine if the company is financially stable. If you file a claim, you want to be sure your insurer can pay it. Find out how financially sound the insurer is by checking the ratings given by Standard & Poor's and A.M. Best. Only consider companies with at least a B+ rating at A.M. Best and don't go below a BBB for Standard & Poor's.
Study satisfaction ratings. Consumer Reports, J.D. Power and other researchers frequently rate insurers. Consider companies that receive high marks. Also, Insure.com's 2014 customer satisfaction rankings provide helpful information.