The Importance of Underwriting in Auto Insurance

When a purchase of an auto insurance policy is made, underwriters review the applications in order to make sure the policies are properly quoted and underwritten. This review is important because sometimes there may be errors or misinformation that can cause premium rates to increase. These bits of information include zip code, driving record info, marital status, gender, vehicle details, vehicle use, and many others. Errors in these can cause premium rate changes or even cancellation.

Some items require the insurance applicant's participation when his or her auto insurance policy is being underwritten. If the driver is listed as married, then he would need to show proof like a marriage certificate or proof of joint taxes. If the applicant fails to provide such proof then he or she will be listed as single and his insurance premium rate will increase.

Replying to an underwriting request like questionnaires on vehicle use is important because not doing so might increase your premium or cause your insurance policy to be cancelled.

You can usually expect underwriting notices within the first month of your auto insurance policy purchase. As early as possible, prepare copies of important documents like vehicle registration in case the insurance company might ask for them.

If your insurer doesn't satisfy your expectations, you can always move to another one. AutoInsuranceSelect.com helps you do this. Just select your state from the drop-down menu on the upper right. Every state is served, from Alaska to Mississippi to Wyoming, so get your insurance quotes now!

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The Importance of Underwriting in Auto Insurance

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