Insurance Quote

Published: | Updated: June 17, 2016

Definition - What does Insurance Quote mean?

An insurance quote is an estimate provided by the insurer concerning the price of a policy. Insurance companies often provide one to prospective policyholders so the latter has an idea of the cost of purchasing coverage from that particular insurer. Often, policyholders ask for quotes from various insurers as way to compare prices and coverage options.

Insuranceopedia explains Insurance Quote

Insurance quotes take into account the level of risk a prospective insured represents as well as the amount of coverage desired. The estimate also depends on the pricing model of the specific insurer, the benefits offered, and other factors that affect cost.

Asking for insurance quotes is a risk-free way to compare various insurers and the policies they offer without having to pay or make a commitment. Prospective policyholders looking for the most suitable policy at the most affordable price can benefit from getting multiple quotes from different insurance companies.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this: