Why Can Insurance Quotes Be So Different in Price?

​Insurance quotes can vary greatly in price for a variety of reasons. Some of the most common factors that can impact the cost of an insurance quote include:

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1. Coverage level: The level of coverage you choose will have a direct impact on the cost of your insurance quote. The more coverage you want, the higher your quote will be.
2. Risk factors: Insurance companies assess the risk of insuring you based on a variety of factors such as your age, driving record, credit score, and the type of property or vehicle you want to insure. If you have a higher risk profile, your quote will likely be higher.
3. Location: Your location can also impact the cost of your insurance quote. For example, if you live in an area with a higher crime rate or a higher risk of natural disasters, your quote will likely be higher.
4. Policy type: The type of policy you choose can also impact the cost of your insurance quote. For example, a term life insurance policy will typically be less expensive than a permanent life insurance policy.
5. Discounts: Some insurance companies offer discounts for things like being a good driver, installing safety features in your home or car, or having multiple policies with the same company.
6. Insurance company: Different insurance companies use different methods to calculate their rates. Some companies may use more conservative assumptions, which will lead to higher rates, while others may use more aggressive assumptions, leading to lower rates.
7. Policyholder's personal factors: Some personal factors such as occupation, hobbies, and education level can also impact the cost of the insurance quote.

It's important when comparing quotes to make sure you're evaluating the same coverage options between them.  Let an experienced independent agent who's used to dealing with complexities of multiple companies do this for you.