Auto Insurance Quote Builder

Auto insurance is a contract between you and an insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your payment, called a premium, the insurance company agrees to pay for losses as defined in your policy. It’s not just a good idea—it’s the law in most states.

How to Use the Calculator

• Go through the About the Driver and About the Vehicle sections. Select options from the dropdown menus that best describe your situation.
• In the Build Your Policy section, choose the levels of coverage you want. Notice how checking or unchecking coverages like Collision and Comprehensive changes the price.
• The Estimated Monthly Premium display at the top updates in real-time. This is your estimated monthly cost.
• Scroll down to the Quote Breakdown table. It shows you exactly how each piece of your policy contributes to the total cost and how your personal Risk Profile multiplies that cost.

Experiment with different options to see what drives the price up or down. This will help you understand how to build a policy that fits both your budget, and your protection needs.

Key Financial Terms

• Collision Coverage: This coverage pays to repair or replace your own vehicle after an accident, regardless of who is at fault. If you have a loan or lease on your car, your lender will almost certainly require you to have this.
• Comprehensive Coverage: An optional coverage that protects your car from damage caused by events other than a collision. This includes theft, vandalism, fire, natural disasters (like hail or floods), and hitting an animal.
• Deductible: The fixed amount you are responsible for paying out-of-pocket for a comprehensive or collision claim before the insurance company pays the rest. A higher deductible typically results in a lower premium, and vice-versa.
• Discount: A reduction in your premium for meeting certain criteria. Common discounts include having a clean driving record, being a good student, or completing a defensive driving course.
• Liability Coverage: The core part of an auto insurance policy that is legally required. It covers bodily injury and property damage that you cause to other people in an at-fault accident. It does not cover your own vehicle or injuries.
• Premium: The amount of money you pay to an insurance company—typically billed monthly, semi-annually, or annually—to keep your insurance policy active.
• Quote: An estimate of what your insurance premium will be based on the information you provide about yourself, your vehicle, and the coverage you select. It is not a binding contract.
• Risk Profile / Risk Multiplier: An assessment used by insurance companies to determine how likely you are to file a claim. Factors like age, driving record, location, and vehicle type contribute to your risk profile. A driver with a higher perceived risk will have a higher multiplier applied to their base premium.
• State Minimum Coverage: The absolute minimum amount of liability coverage a driver is legally required to carry in their state. This level of coverage is often insufficient to cover all costs in a serious accident.
• Uninsured Motorist Coverage: This protects you if you are hit by a driver who has no insurance or not enough insurance to cover your medical bills and damages.

Getting Auto Insurance Scenario

Use the Auto Insurance Quote Builder to input an example scenario and establish your baseline monthly premium. This will be your starting point for the quiz questions that follow.

About the Driver

• Driver Age: 20-24
• Location: Suburban
• Driving Record: Clean
• Available Discounts: Good Student (you have 3.5 GPA)

About the Vehicle

• Vehicle Category: Economy Sedan
• Vehicle Age: Slightly Used (3-5 years old)
• Vehicle Safety Rating: Good

Policy Selections

• Liability Limits: Good Coverage (100/300/100)
• Collision Coverage: Yes
• Collision Deductible: $500
• Comprehensive Coverage: Yes
• Comprehensive Deductible: $500
• Uninsured Motorist Coverage: Yes