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How Long Is An Insurance Quote Good For?

If you’re wondering, “How long is an insurance quote good for?” You’re already on the right track to finding the best deal on quality coverage. 

In May of 2022, Insurance Business Canada reported that 51% of Canadian drivers surveyed by Ratehub.ca don’t like shopping for a better deal on coverage, despite potentially missing out on hundreds of dollars in savings yearly. 

At aha insurance, our technology and expert brokers work together to find you the best price and protection from our leading insurance partners. 

Let’s look at common questions about the insurance quote process. 

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Frequently Asked Questions 

 

How long is an insurance quote good for, and when do auto insurance quotes expire?

Insurance providers can offer different amounts of time before their quotes expire. Most insurers’ quotes are valid for 30 to 60 days. At aha insurance, we also guarantee your quote for 30 to 60 days, depending on the insurance company that can offer you the best coverage. So, you have plenty of time to decide if the custom policy we offer is right for you. 

 

What if I need to update my quote? 

You can access your saved quote online to amend the expiry date of your current insurance policy and update your quote. You can call in and speak to a broker for help updating a completed insurance application. Even if you don’t purchase insurance with us, we can reach out the next time you’re looking for the best home and auto insurance deals. 

 

What if I get a quote more than 60 days before my current policy expires? 

Suppose you get a quote more than 60 days before your current insurance expires. To ensure that your details are accurate, you’ll need to contact us or update your saved online quote within the 60-day window before your old policy expires.

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Does insurance go up after a quote? 

Working with a reputable insurance agency or brokerage is vital to guarantee that your quote includes all the coverage and protection you need. Learn more about buying auto insurance safely online

At aha, we guarantee your quote for 30 to 60 days, as long as the information you provide remains accurate. So, buying insurance will only go up after a quote if your circumstances or needs change. 

Life moves fast, and sometimes changes will affect your insurance quote. If your driving or living situation changes before purchasing your policy, you can get a fresh quote online or call us to update your information. 

You should also let your insurance broker or agent know if these changes occur after purchasing your policy to ensure you have the protection you need. After buying insurance, if you need to advise us of a change, such as moving, we’ll update your policy, and differences in your premium will be reflected immediately. This is true for both monthly and annual payment plans.

Here are some circumstances you should tell your insurance representative about to make sure you always have the right coverage: 

Address changes

As you might expect, moving will affect tenant and homeowner’s insurance, but it will also affect your auto insurance policy. Learn more about how your address affects your auto insurance

Home renovations

Talking with your insurance representative about home improvement projects ensures you have the coverage you need. For example, ensuring you have liability insurance and that your home remains insured for its total replacement cost. Renovations that improve your home’s security, like alarm systems or weatherproofing, can help you save on your insurance premium. 

Adding drivers to your auto insurance

Whether you need to add a roommate as an occasional driver or your kid just received their learner’s permit: It’s important to tell your insurer about every licensed driver in your household. 

Changes in your driving habits

For example, tell your insurer about changes to your commute. A longer commute could mean a slight premium increase while working from home, or retirement could help reduce your auto insurance rate. If driving becomes part of your job, you may require commercial auto insurance. You must also inform your insurance company before you start driving for a ride-share or delivery company like Uber.

Most insurance policies cover you for a 12-month term. Your insurance representative will send your renewal documents by mail or email 45 to 30 days before your policy renews, allowing time to discuss any policy changes. 

Learn more about car insurance renewal considerations and when it’s time to review your home insurance policy

 

Does getting insurance quotes affect credit in Canada?

Good news for anyone looking to shop around for their best insurance coverage options: Getting an insurance quote will not affect your credit in Canada.  

Credit checks are not performed on auto insurance in most provinces. While Alberta insurers use credit checks for auto insurance policies, Ontario, Quebec, and the east-coast provinces do not. 

Insurance companies may perform “soft credit checks” when you apply for insurance. In contrast, “hard credit checks” are used when someone is looking for credit, like in the case of a loan or credit card application. Soft credit checks won’t affect your credit score, unlike multiple hard credit checks. Fortunately, property insurance companies only use soft credit checks in most provinces.  

However, suppose you don’t pay your premium, and your insurance company transfers your debt to a collection agency. In that case, your credit score will likely decrease. Keeping up with your insurance payments is also essential to maintaining affordable insurance premiums since gaps in coverage or non-payment on your record will increase the cost of purchasing insurance. 

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Do insurance companies pull credit for a quote? 

Depending on your province and the type of insurance application, Canadian insurers can use a “credit-based insurance score” obtained from a soft credit check to help calculate the price of your premium. 

Insurers may use credit checks because their research finds a correlation between good credit and factors that predict lower insurance risks. For example, consistent home and vehicle maintenance predict safer driving practices and lower home and auto insurance claims rates. Therefore, insurers may use your credit-based insurance score to predict your likelihood of making a claim. 

In Alberta and Ontario, insurers can use a credit check to help them determine the price of your home insurance premium. However, not all insurance companies use credit checks to calculate home insurance quotes. If you are concerned about bad credit impacting your home insurance price, ask your insurance company if they conduct credit checks. 

You can also choose to get a quote from an insurance broker. For example, your broker may represent companies that consider your credit score and those that don’t. Some companies may consider your credit score less critical than other factors when calculating your rates. A broker will help you choose the policy option from the insurance company that offers you the most savings for the coverage you need. 

 

If I am interested in a quote, how do I proceed?

If you are happy with your quote, you may be able to purchase it either over the phone or online. At aha insurance, you can get your guaranteed quote and buy your policy 100% online, but sometimes getting the best insurance requires a human touch. 

If you start your quote online, sometimes our brokers may need to ask you a few questions to finalize your coverage options. In that case, you can give us a call to complete your quote and purchase your policy. Our insurance experts are here to help you out. You can always get in touch via live chat, email or giving us a ring during our business hours.

Once you purchase your shiny new policy, we’ll send you your finalized documents for review. You can log in to My Account to access your policy details and pink slip. 

At aha insurance, we pride ourselves on making insurance stress free. Get your guaranteed quote today to find out if you can save on better coverage the next time your policy renews. 

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