List of Car Insurance Application Requirements
You may be getting your car insurance from a broker, aggregator or directly from the insurance firm. There are some car insurance application requirements common to all insurance methods. These items include documentation and information.
The insurer will need to these to draft your policy and work out your premiums. Knowing these requirements beforehand will shorten the application process and enable you to start enjoying your cover sooner.
Your Car Insurance Application Requirements
Having ID is standard practice anywhere you go. You will have to give your full name, ID number and current address. Also, you will have to reveal your driving history. Give the date you got your driving license.
In connection with this, you will also if your car is for business or personal use. The insurer also needs the personal details of other people who use your car regularly.
It goes without saying that you need to give details of the vehicle for car insurance. These include the make and model of your vehicle as well as the number of kilometres it has clocked so far. The insurance firm needs the registration of the vehicle or its vehicle identification number along with its car license number.
You will also need to specify the security features of your vehicle. These include the alarm system, gear locking system or tracking devices. You can mention any extra features you would like your policy to cover.
The accident history of your car will need to be specified so that the insurer can know if it has been involved in an accident previously.
On top of this, they will want to know if your car is under any financial agreement, that is if you’re still making loan repayments for your vehicle or making hire purchase instalments.
Personal Car Insurance Application Requirements
In addition to your personal information, the insurer will need more information by which to gauge how much of a risk you are. For this, they will ask for your accident history as well as your claims history.
If you’ve had numerous accidents in the past, or if you have made many claims, there will be red flags raised against you. Your previous insurance history will be a factor in determining your level of risk so you can be sure they’ll ask for this information.
They will want to know if you have bought policies in the past, with whom and when. Be ready to tell them if you have been denied insurance in the past.
You will have to provide your financial history, and they will want to know if there have been judgements against you in a financial matter and whether you have ever been declared bankrupt.
Some of the information they ask for may be hard to reveal because of misplaced documentation or the fact that it is embarrassing. It is for your own good that you are as honest as possible with your insurer at the beginning as some of the missing details may work against you when it comes to processing claims.
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