Why Your Auto Insurer Asks for This Information

Why Your Auto Insurer Asks for This Information

Here’s why your auto insurance provider asks you to supply this information.

If you are looking for auto insurance, then you will have to provide certain pieces of information to the insurance provider. But why do insurance companies request this information? Here are some of the reasons why auto insurers ask you for this personal information.

Your Social Security Number

When you are getting an auto insurance quote, the insurance company will not require you to provide your social security number. However, they will give you the option to provide this information. When you supply your social security number, the insurance company will use it to run a soft credit check on you. Because your insurance rates are greatly dependent on your credit rating, this soft credit check will allow your insurer to offer you a more accurate insurance quote.

Your Vehicle’s Identification Number (VIN)

Even though your auto insurer will require you to supply your vehicle’s year, make, and model, they will also request your VIN as well. This is because your VIN is a serial number with every number and letter providing a specific piece of information about your car. For instance, your VIN will indicate your car’s special features such as side airbags, anti-theft devices, and so on. By supplying your VIN, your insurer will be able to give you a more accurate quote.

Your Home Ownership Status

What does owning a home have to do with your auto insurance? Well, homeowners tend to drive more cautiously and have a reduced chance of getting into an accident. Additionally, if you own a home, you might need higher coverage limits to protect your financial assets. Finally, being a homeowner might unlock special discounts on your auto insurance. These various factors will all influence your auto insurance rates.

This is why your auto insurer asks you for this information.  Do you have more questions regarding your auto insurance?  Then don’t hesitate to contact us at Steve Wilk Insurance Agency.  Located in Illinois, check out our new office at 310 S Main Street, Suite C, Lombard, IL 60148.