myquotePDXHome & Auto Insurance

How should I compare two insurance quotes beyond price?

Short answer: Line up complete proposals for the same term, then compare what each one covers, the limits, the deductibles and the options and exclusions, before you compare the total cost. A lower price only means something when the terms underneath it match.

Start with the same ground rules

Make sure both proposals are complete, cover the same time period and describe the same vehicles or home. Ask the agent or insurer whether each document is an estimate, a binder or an issued policy, and which figures could still change.

Home: the fields Oregon DFR tells shoppers to compare

The Oregon Division of Financial Regulation’s home insurance shopping tool has shoppers compare dwelling, personal property, additional living expense and liability limits, the deductibles, whether property is paid at actual cash value or replacement cost, optional coverages and their premiums, discounts, and the total premium after discounts (Oregon DFR home insurance shopping tool). Put those rows side by side for each proposal. If a row is blank on one proposal, ask why.

Auto: read the declarations, then the forms

The NAIC explains that an auto declarations page shows effective dates, vehicles, any lienholder, coverages, limits and premiums, and that the coverages you bought are listed there. The full policy form is what explains covered terms, conditions and exclusions, and the NAIC suggests asking the agent or insurer to clarify anything that is unclear (NAIC, declarations pages). Compare the declarations first, then ask for the forms behind any difference you find.

Home details can change the proposal

The NAIC notes that a home’s age, construction, roof and systems are the kind of information used in shopping, and that policy terms, limitations and options differ, so the contract should be read carefully (NAIC, homeowners insurance). If two proposals were built from different home details, they are not yet comparable.

Then compare cost

Once terms match, compare the total premium and ask about payment plans and what the quoted discounts depend on. Oregon DFR’s tool frames this as total premium minus discounts, listed next to the coverages (Oregon DFR). This page does not say which proposal is cheapest or best; that depends on your documents and your situation.

Three questions to ask

  1. Which of the limits, deductibles and valuation methods in these two proposals are different, and what does each difference change?
  2. Which options, exclusions or policy forms apply to each proposal, and can I see them before I decide?
  3. What is the total cost for the same term, including any payment plan, and what do the discounts depend on?

Choose Jeff or Matt to talk it through

Photo of Jeff Guettler

Jeff Guettler

Farmers agent. Portland and Molalla offices.

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Sources and dates

Explicit Limitations & Important Notice

This information is provided for general educational purposes as part of My Quote PDX. It is not professional advice, an individualized recommendation, a binder, or an offer of insurance. My Quote PDX does not issue a quote, binder, or policy, and it does not make coverage determinations.

Actual coverage, limits, exclusions, definitions, policyholder duties, claim decisions, prices, and eligibility depend exclusively on the insurer's final declarations, active policy forms, specific endorsements, detailed underwriting, and the specific facts surrounding any loss. Always consult directly with a licensed insurance agent or broker, and read your actual policy documents to understand your coverage.