See the 6 examples below to understand some of the reasons an underwriter may be involved.
Underwriting is the process of evaluating the risk of insuring something, such as a house, a person or a vehicle. If you click on a link, we may earn a commission.
Why is it called underwriting? By operating a motor vehicle there is an inherent amount of assigned risk involved that both you and the insurance company take on.
Youi also does all of their underwriting themselves. What car insurance do I need? Is your current comprehensive car insurance near renewal or are you interested in seeing how much you can save on your premium?
Underwriters will all offer different terms, and insurance brokers may shop around in order to find the best terms for their customers.
The underwriting department reviewed Elizabeth and John's profile and decided they were comfortable with taking on the risk. That said, better coverage may be a more affordable upgrade than you think.