MyInsuranceInfo Auto Insurance Review: Should you buy in 2024?
Managed by AlliedSolutions, MyInsuranceInfo helps auto loan lenders confirm that you have the proper amount of car insurance coverage. Drivers who need to confirm their coverage will typically receive a letter from MyInsuranceInfo directing them to upload their insurance documentation through MyInsuranceInfo's online portal. If you receive such a letter or email and are unsure of its origins, you can reach out to your lender to confirm that the letter is from a legitimate source.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
UPDATED: Nov 6, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Nov 6, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- MyInsuranceInfo works with auto loan lenders to confirm your insurance coverage
- You should compare at least three quotes when shopping for an auto loan
- You can shop online for full coverage auto insurance
Buying a new car is an exciting but expensive endeavor. High car prices lead many drivers to secure a car loan from a bank or credit union, which usually require drivers to have full coverage auto insurance on the vehicles they purchase. To verify that you’ve bought the proper coverage, these institutions may turn to companies like MyInsuranceInfo to get all the necessary documentation.
If you’ve received a letter from MyInsuranceInfo requesting information or are thinking about securing a car loan, keep reading to learn more about MyInsuranceInfo, how to apply for a car loan, and how to find insurance companies that provide full coverage insurance.
While you read this MyInsuranceInfo review, you can start looking for a great insurance policy. Enter your ZIP code to start comparing free quotes right away.
Table of Contents
What is MyInsuranceInfo?
MyInsuranceInfo is managed by AlliedSolutions and is an insurance verification service that partners with financial institutions to confirm that an individual has the insurance coverage necessary to qualify for a car loan.
When a lender hires MyInsuranceInfo to determine if you have the proper insurance coverage, you will receive a notice in the mail asking you to upload your insurance information into the MyInsuranceInfo insurance verification specialist system online.
MyInsuranceInfo has an easy access portal that you can use to upload all your necessary documents.
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How long does the insurance verification process take?
While MyInsuranceInfo advertises that submitting your insurance documentation should take less than five minutes of your time, the entire process of verifying your insurance could take two or even three days.
After MyInsuranceInfo has examined your insurance policy, you’ll receive an email notification letting you know that everything is in order or that more information is needed, in which case you would be given instructions to follow or a number to call.
How can drivers get an auto loan?
Just as you would with any other loan type, be sure to shop around. Try to obtain at least three quotes and compare each quote’s annual percentage rate (APR) and repayment terms. Getting a large loan amount may not be worth it if you have to struggle to pay back your loan’s high interest rates.
Once you’ve settled on a quote, you need to prequalify. This is the first official step in the auto loan application process, where you’ll be able to see your potential rates without having a hard check run on your credit.
After that, you’ll be required to share information about the car you would like to buy and yourself. Typically, a lender will request the VIN, the registration for the car, the title, and the purchase agreement. You’ll also need to share proof of income, like a W-2, a pay stub, or a 1099 form. You also need to have your driver’s license and proof of residence present.
While you’ll be spoiled for choice when looking for an auto lender, some lenders you may want to consider are:
- LightStream
- Bank of America
- CapitalOne
- Carvana
After your loan application has been finalized and approved, don’t miss any payments. If you do, your lender could repossess your vehicle.
Where can drivers buy full coverage auto insurance?
Shop online to find insurance companies that offer full coverage auto insurance. If you’re not sure how much you might have to pay for full coverage, you can review this data table, which displays the average rate of insurance in each state:
States Average Annual Liability Coverage Rates Average Annual Collision Coverage Rates Average Annual Comprehensive Coverage Rates Average Annual Full Coverage Coverage Rates
North Dakota $282.55 $252.21 $112.74 $741.11
South Dakota $289.04 $251.30 $110.12 $1,206.46
Iowa $293.34 $251.46 $230.65 $819.14
Wyoming $323.38 $270.48 $222.86 $816.71
Maine $333.92 $331.72 $146.77 $1,077.97
Idaho $337.17 $284.92 $117.98 $833.44
Vermont $340.98 $278.38 $118.31 $737.67
Kansas $342.33 $255.33 $130.15 $904.39
Nebraska $349.07 $293.78 $116.79 $1,057.63
North Carolina $357.59 $227.44 $227.64 $737.63
Wisconsin $359.84 $209.93 $126.34 $696.11
Indiana $372.44 $207.10 $171.58 $672.01
Alabama $372.57 $299.10 $146.28 $817.95
Ohio $376.16 $298.21 $201.56 $941.34
Arkansas $381.14 $304.87 $183.36 $869.37
Montana $387.77 $223.50 $206.24 $778.81
New Hampshire $393.24 $365.23 $123.18 $1,353.96
Tennessee $397.73 $290.39 $135.62 $823.74
Missouri $399.41 $254.90 $199.87 $842.54
Virginia $413.12 $264.70 $129.89 $807.71
Illinois $430.54 $237.19 $115.02 $724.65
Mississippi $437.38 $259.65 $166.34 $825.40
Minnesota $439.58 $302.96 $194.74 $935.08
Oklahoma $441.57 $212.47 $89.66 $855.57
Hawaii $458.49 $209 $110.78 $656.95
New Mexico $462.21 $358.45 $156.66 $1,300.09
California $462.95 $364.56 $99.29 $926.79
Utah $471.26 $254.41 $106.57 $832.24
Colorado $477.10 $263.36 $158.34 $898.79
Arizona $488.59 $259.31 $184.20 $932.10
Georgia $490.64 $297.75 $100.09 $856.33
Pennsylvania $495.02 $377.06 $122.17 $1,219.29
South Carolina $497.50 $200.10 $228.59 $717.73
Texas $498.44 $340.51 $186.70 $1,025.64
West Virginia $501.44 $319.10 $195.04 $1,015.57
Kentucky $518.91 $391.03 $208.59 $1,326.78
Alaska $547.34 $360.18 $141.08 $1,048.60
Oregon $553.43 $307.31 $132.01 $934.34
Washington $568.92 $250.13 $104.11 $923.16
Massachusetts $587.75 $383.21 $147.02 $1,252.27
Maryland $599.48 $358.68 $128.92 $1,075.35
District of Columbia $628.09 $449.27 $230.25 $1,307.62
Connecticut $633.95 $348.70 $126.02 $1,108.67
Nevada $647.07 $281.70 $103.03 $777.98
Rhode Island $720.06 $247.62 $165.38 $910.51
Michigan $722.04 $214.02 $173.04 $826.64
Louisiana $727.15 $249 $96.66 $679.56
Delaware $776.50 $296.60 $113.23 $1,186.33
New York $784.98 $264.58 $123 $745.17
Florida $845.05 $320.45 $153.61 $964.70
New Jersey $865.55 $267.48 $166.89 $896.58
Bear in mind that your rate may be very different from those displayed because rates are calculated using many factors. Some of these factors include your age, the type of car you drive, and your credit score. If you are looking for full coverage insurance at low rates, shop online to find a company that provides not only excellent coverage but discounts like Safe Driver or VIN-etching that can keep your rates at a reasonable level.
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What You Need to Know About MyInsuranceInfo
MyInsuranceInfo is a company that helps auto loan lenders confirm that you have the proper car insurance coverage. If you receive a notice from this company requesting your insurance information, you’ll be able to upload all your documents in just a few minutes through the MyInsuranceInfo online portal.
If you are thinking of applying for a car loan, remember that you’ll need to buy full coverage insurance, which can be more expensive than just liability coverage. Shop online to find an insurance company that provides full coverage at great rates.
You can feel confident to start shopping for a great insurance quote now that you’ve finished this MyInsuranceInfo review. Enter your ZIP code to receive free quotes from insurance companies near you.
Frequently Asked Questions
What happens if I fail the insurance verification process with MyInsuranceInfo?
Failing the process means your insurance documentation didn’t meet the requirements. You may receive a notification specifying the issues or additional information needed. Address the deficiencies promptly or contact your lender for instructions.
How often do I need to go through the insurance verification process with MyInsuranceInfo?
The frequency depends on your auto loan lender. Some may require periodic verification, while others verify initially. Review your loan agreement and communicate with your lender for specific requirements.
Can I use MyInsuranceInfo for insurance verification purposes if I don’t have a car loan?
MyInsuranceInfo primarily works with auto loan lenders. If you don’t have a car loan or haven’t received a notice, you may not need their services for insurance verification.
How do I upload my insurance information to MyInsuranceInfo’s online portal?
Visit the MyInsuranceInfo website, create an account if necessary, access the insurance verification portal, upload your insurance documents, review, and submit.
How can I save money on my full coverage auto insurance?
Compare quotes from multiple insurance companies, opt for higher deductibles, bundle policies, maintain a good driving record, and inquire about available discounts.
If I get a car loan, will my bank require me to purchase from a specific insurance company?
Banks usually require full coverage auto insurance but typically don’t mandate a specific insurance company. Check with your lender for their coverage requirements.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.