Underwriting is performed by an underwriter who is an insurance professional employed to accept or reject risk on behalf of an insurer. Put another way, an underwriter invests the capital of an insurance company by rejecting or accepting risk. It is the job of the underwriter to only accept certain risk which the insurance company's actuaries deem as acceptable or more importantly profitable.
Is it safe to do an auto insurance quote on a car to see what it would cost, before even going to the dealer or anything? I didn't know if it would check a credit score or something that might count against me if I did multiple quotes. Answer: In short no. It is quite common and even recommended that before you buy a new car you compare insurance quotes for your new vehicle to see if it is "worth it" to buy. Any smart person before making a big financial decision will weigh the pros and cons before they buy. Seeing how much an auto insurance quote is, is one of the ways you can see if that new car is right for you.
Usually when you get auto insurance, you have to fill out an application either in person or over the telephone. Your insurance coverage starts at 12:01 am on the day you sign the application (or contract). You may, however, not receive all your documents right away and instead are issued a temporary "proof of insurance" slip until the insurance company can approve your application for auto insurance.
Auto insurance otherwise known as automobile insurance, car insurance, or motor vehicle insurance is financial protection for you when you are injured or your car is damaged or you are sued as a result of a car accident. "Financial protection" or indemnification is the process by which an insurer indemnifies an insured for a loss for which they are covered. For example, if you insure your vehicle with an insurance provider and get into an accident that causes damage to your car than your insurance company will pay for it provided you have adequate coverage. In this case, you would either need to be held not at-fault for the accident or have physical damage coverage, better known as full coverage, to receive indemnification. What is an Auto Insurance Quote? An…