What and Why an Insurance Agent Will Ask You These Questions

Knowing what type of questions you’ll be asked by an insurance agent can you help get the right insurance for you and save money.

Types of Information Collected by Insurance Companies

Depending on the type of insurance you are looking for, whether it’s home, auto, life or disability coverage, you may be asked to provide some or all of the following information to obtain an insurance quote:

  • Your name, address, date of birth and SSN
  • Your level of education
  • Type of employment, including industry and occupation
  • Your income and financial health
  • Which organizations you belong to
  • What type of health insurance you carry
  • Homeownership status
  • Last time you saw a doctor
  • Your marital status and information about your spouse
  • Your height and weight
  • Your drinking and smoking preferences
  • Your personal medical history (and sometimes your family’s too)
  • Your hobbies and pastimes

This may seem like a lot of personal questions, and you are right. However, the more honest and complete answers you can provide, the more accurate insurance quote you will get.

How Your Answers Help Insurance Companies

By collecting and analyzing all this information, insurance companies are able to:

  1. Determine how likely you are to file an insurance claim.
  2. Provide you with the most fair and accurate rate based on your risk factors.

Insurance companies have access to vast amounts of statistical data. This data shows the likelihood of different individuals getting into car accidents, having health issues or having a house fire. For example, (not a real example) they may have data indicating that 45-year-olds get in fewer accidents than 17-year-olds Each bit of personal information you provide helps insurance company place you in the correct group.

A single factor, like your income or education, is not enough to make a proper judgment about your lifestyle. Just because you have a PHD doesn’t mean you have excellent health or drive carefully. You might have a substance abuse problem, which makes you likely to drive under the influence in the eyes of an insurance company. That’s why so many questions are necessary for your insurance provider to have the full picture of your lifestyle and fine-tune your quote instead of broadly grouping you with other drivers.

If you are shopping for auto, home, health, commercial or life insurance let Uniamericainc.com help you today!