Money is obvious. And of course, having a vehicle to insure and a stopover address is another. A complete application with signatures applies to all policies. In addition, each company will have its own unique guidelines for what you need. Finally, the legal requirements may change in different jurisdictions.
Payments to initiate a policy are made primarily by check or credit card. Today many policyholders use an electronic form of payment. Account number, expiration date and security code are required for credit and debit cards. For an electronic fund bank, transfer your bank account and routing numbers. In both cases, the account holder, who is not always the contractor, must provide authorization.
Before a policy can begin, the vehicle identification number or VIN (17-digit alphanumeric) is required. Providing the make and model of the year is not enough. Each car has a unique VIN which identifies the characteristics of that particular car. Airbags, anti-lock brakes and other vehicle features are verified. CLUE (Claims Exchange of Claims Claims) reports indicating that vehicle accident history requires the correct VIN.
Information not provided on computer-generated reports such as MVR and CLUE is required to complete the application and issue (start) a policy. Be prepared to provide the name and address of the employer (school) for all drivers. When making payments on the car, the name and address of the bank or leasing company is required. The application must be signed and the payment authorized.
Companies often require a variety of documentation to support policy. Evidence of preventive insurance or school transcription for discounts is typical. Photographs of the vehicle or identification of the image of the insured are less common. If there are several vehicles in the family covered by another insurance policy, you may be asked to provide proof. Not all jurisdictions have the same legal requirements. For example, 7 counties in Florida require mandatory vehicle inspections when starting a new policy that includes coverage for physical damage.
Most, but not all, of the information needed for a policy is generated by reports from your name, address, driver's license and VIN numbers. It is imperative that the 17-digit VIN number provided is correct. Complete information, payment details, specific requirements and signatures are the necessary elements to set up an insurance policy.
