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The article has been updated successfully but requires approval before it is published.How long are car insurance quotes good for?
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The answer depends on how much insurance rates fluctuate. When a car insurance company provides a quote, it reflects the advertised current rates. These rates are often subject to change and most companies print a disclaimer on the quote stating that they reserve the right to change the quoted rate at any time due to these fluctuating rates.
A good practice is to ask your insurance company up front how long they can hold the prices on the quote. They may still identify several exemptions, but may be willing to hold the prices for a fixed term while you shop around.
Another variable in car insurance quotes and rates is underwriting. When a car insurance company provides a quote, it may be based on good driver characteristics. Once a company knows the type of car, it will assess the history of the vehicle and the history of the driver before a policy will be executed. Some companies ask permission to perform a background check on your driving history upfront before providing a quote.
This background information is passed along to an underwriter who will determine the risk to the auto insurance company. If you present a high risk, the insurance company will reserve the right to adjust your rates higher to compensate for the increased risk. If you fall near their good driver characteristics, you will likely pay the quoted rate.
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