In many cases, such as life insurance, the written application becomes part of the policy. Some applications for automobile insurance also require considerable information about your driving and claim experience, as well as information about others who may use the car. It also provides information about the exposure involved.įor example, in an application for an automobile policy, you would identify yourself describe the automobile to be insured and indicate the use of the automobile, where it will be garaged, who will drive it, and other facts that help the insurer assess the degree of risk you represent as a policyholder. The application identifies the insured in more or less detail, depending on the type of insurance. As a practical matter, the agent also fills out the application and then asks for a signature after careful study of the application. The function of the agent is to induce a potential insured to make an offer. Although more insurance is sold rather than bought, the insured is still required to make an application An offer to buy insurance, which is an offer to buy insurance.
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