Misquote

A misquote means an incorrect estimate of how much an insurance policy will cost. This often happens when the risk is not properly understood or represented, especially when using online tools to get quotes.

Here’s how misquotes can happen:

• Incorrect Risk Assessment: The insurance company or quoting tool doesn’t accurately evaluate the risk linked to the person or property being insured. This leads to a quote that is not correct.
• Misunderstandings: Sometimes, there can be confusion about what the insurance covers, including limits or exclusions. This results in a quote that doesn’t show the actual cost of the policy.
• Online Quoting Tools: When using online quote calculators, people might enter the wrong information or miss important details. This can lead to incorrect numbers that don’t reflect what they will actually pay.

Overall, a misquote can create confusion for the insured and may lead to unexpected costs or not enough coverage if the real risk isn’t assessed correctly. It’s important for anyone looking for insurance to talk with an agent to clarify details and understand the terms before deciding based on an insurance quote.