An insurance quote shows the price and key terms an insurer may offer based on your details and chosen cover.
An insurance quote is a proposed price for an insurance policy. It is based on the information you provide, the risk being insured and the level of cover you choose.
The price shown is often called the insurance premium. A quote may also show the cover level, excesses, optional extras, fees and payment choices.
You can get a quote from an insurer, an insurance broker or a comparison website. Comparison sites do not always include every provider, so the cheapest result may not offer the most suitable cover. MoneyHelper explains how insurance comparison sites work.
A quote does not mean that cover has started. You must accept the terms, arrange payment and receive confirmation of the policy and start date.
Insurers use underwriting to assess the chance and possible cost of a claim. Each insurer uses its own rules, so prices and terms can vary.
For a car or van quote, you may be asked about:
For home insurance, questions may cover the property’s age, location, construction, security and occupancy. The insurer may also ask about previous claims, flood or subsidence history, contents values and the rebuild cost. MoneyHelper provides guidance on buildings insurance and rebuild costs.
You must take reasonable care not to give an insurer incorrect or misleading information. This duty applies when you buy, renew or change a consumer insurance policy under the Consumer Insurance (Disclosure and Representations) Act 2012.
Check every answer before accepting a quote. Tell us if anything is wrong or has changed, such as your address, vehicle use, main driver, claims history, convictions or property occupancy.
If incorrect information affected an insurer’s decision, it could change the premium or policy terms. In some cases, it could affect whether the policy continues or whether a claim is paid. The outcome depends on the facts, what the insurer would have done with the correct details and the relevant legal rules. The Financial Ombudsman Service explains how misrepresentation cases are considered.
Do not compare quotes by price alone. Check the insurance cover, limits, conditions and exclusions.
The Insurance Product Information Document should provide a clear summary of the main cover, exclusions, obligations and payment arrangements. The FCA sets rules for the information this document should contain.
You should also read the full policy wording, as policies with similar names may provide different cover.
An insurance excess is the amount you may need to pay towards a claim. A quote may include both a compulsory and voluntary excess. Choosing a higher voluntary excess can reduce the premium, but it can increase what you pay if you claim.
Check the total cost of paying by instalments, as interest or credit charges may apply. Administration, arrangement or cancellation fees may also apply, depending on the provider and policy.
A quote may change if you alter your answers, select different cover or change the start date. It may also change after an insurer checks your details or after the quote expires.
Always review the final price, cover and policy details before buying.
We arrange car insurance, van insurance and home insurance through insurers. We do not underwrite every policy ourselves.
We may be able to arrange quotes for customers with previous claims, motoring convictions, a low no-claims bonus or non-standard home insurance needs. This can include unoccupied homes, listed buildings and properties with flood risk.
Whether a quote is available, and the price and terms offered, will depend on your full details and the insurer’s underwriting rules.
