How long do auto insurance quotes last for?

Your auto insurance quotes change over time and are only as accurate as the information you provide. Compare rates at least every two years to lower your bill by up to 20%.

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Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
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UPDATED: Apr 22, 2020

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Here's what you need to know...

  • If you solicit a quote for auto insurance, you must provide personal information to ensure that the rates you’re quoted are accurate
  • Your auto insurance quotes are only as accurate as the information that you provide. If you put false information or you don’t disclose a ticket, it’s easy to get a misquote. Misquotes are when the rate changes after the application has been reviewed by an underwriter
  • The auto insurance quotes that you’re given can change. In fact, personal auto quotes aren’t binding and they can easily change just days after the quote was retrieved
  • One of the main reasons a quote will change is when the company files for a rate increase and the increase is approved by the state insurance commissioner. If the increase is approved, everyone will see an increase in their rates upon their next renewal
  • If you wait several months to proceed with a quote as a young driver, your rates could go down because you gain driving experience

The only way to find the lowest possible rates for auto insurance is to compare quotes. When you’re shopping around, it’s best to get give rate quotes to each prospective applicant so they know how much they’d pay through the carrier.

Unfortunately, many people assume quotes are the price that you’ll pay. While systems make quotes more accurate, the rate you’re quoted isn’t guaranteed.

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When a company says that underwrite or verify the information that you provide until after the application is submitted and the disclosures are signed.

When is your rate binding?

A quote isn’t binding because it’s an estimate. A binding rate is a rate that’s guaranteed for the entire term.

Since you only get a contingent rate quote when you’re submitting your application, the rate isn’t bound until after the policy is issued.

When the policy is issued, you’ll get the final rate that’s binding for the remainder of the term.

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Auto Insurance Quotes Are Good For a Limited Period of Time

It’s best to print your quotes out whenever you’re comparing rates. When you’re quoted a rate, the company will have a note on the quote that shows how long the quote is good for.

Some carriers will honor their quotes given in person and online for a day or a week and others don’t honor quotes if rates change before you apply for coverage.

How can an insurance quote change days after it’s been mailed to you?

If you know that you’ll be buying a policy from one of the insurers you’ve been working with within the next few days, be aware that your rates can change.

It’s possible for a company to change their rates within just a few days. As long as that carrier doesn’t honor quotes the company can legally change your estimate.

Rates change because companies file a company-wide rate increase. The rate increase must be filed with the Department of Insurance, which must be justified and approved by the commissioner.

If all of this happens between the time that you’ve requested a quote and the time that you fill out your application, you’ll pay the higher base rate.

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Other Reasons Your Insurance Quotes Can Change

Company-wide increases aren’t the only culprits when your estimates change. There are a few other reasons that you should be aware of if you’ve noticed a dramatic change in your estimates.

Here are some of the common reasons rates go up or even down:

If you own a car and you want to pay low premiums on your insurance, it’s time to solicit quotes.

Generate instant quotes online by using an insurance quote comparison tool. After you solicit these quotes, you can decide which option to apply for so that you can secure a base rate.

Enter your zip code into the FREE tool below to access car insurance quotes that fit your budget today!

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