Indications vs. Quotes | What’s the Diff?

Indications vs. Quotes

In the event you’ve ever inquired about pricing, you probably heard either of these two terms, indication or quote. We’re here with the next “What’s the Diff” to clarify the nuances of these two terms.


A non-binding rate, by an underwriter of the anticipated premium, that would be charged to coverage your given risk exposure; subject to the provision of additional information.


A statement of the premium based on the information supplied in a formal application. A quote might have some subjectivities to the provisions information. If a quotation is accepted, then subject to the satisfaction of any conditions that may attach to the quotation, an insurance contract will be made, i.e. bound.

Quoting Variables

We hope that cleared up any confusion if you’ve ever received an indication and a quote and noticed a significant difference between the two. As an additional reference, we’ve listed a few variables that affect your final premium proposal:

  • Specialty
  • Territory (County, City, State, etc.)
  • Procedures in the Scope of Specialty
  • Claims History (Loss Runs)

These all play a part in the underwriting matrix, deciding what your quote for the given risk exposure.

If you have any questions or comments regarding indications and/or quotes, give us a call directly at 1-800-317-6411 or email us at

We’re Happy to Help with All Your Insurance Needs, Let’s Discuss Coverage Options!

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