Q: Are the motor insurance quotes I receive from insurance companies binding? If so for how long?
A: The answer to that is yes and no. Let us explain. If you receive motor insurance quotes from an insurance company – then that is the price they are going to charge you. However, they are not legally bound to quote you the same price if you call them back three days later.
It is likely you will receive the same quote from the same company provided there were no incidents from when you first received the quote, but just because it is likely doesn’t mean that the company is bound to stand to by the earlier quote.
A good way to find out how long the quoted rate is good for is to ask the agent or representative who is giving you the quote. Be wary of a hard sell at … Read More