I currently smoke but am planning on quitting. Should I wait to apply for insurance?

Even if you quit smoking tomorrow, insurance companies will not give you a nonsmokers discount for at least a year. Until you have been tobacco free for a year, they will change your status and give you the appropriate discount. Some types of insurance, including both health and life insurance, could request you to submit to a nicotine test.

Nonsmokers get better rates on most types of insurance. They present less of a life and health insurance risk, and increase the safety of a home or auto insurance policy. Cigarettes can be destructive and distracting, and insurance companies appreciate those who have given up the habit. But not all insurance policies can wait for you to be smoke-free before you purchase them

Car insurance is a necessity throughout the United States. You can worry about getting the nonsmokers discount later. Home insurance cannot wait on you to be tobacco free either, nor can your health coverage. Life insurance could be delayed for a period of time, but the longer you wait to buy life insurance, the more it will cost you in premiums based on only your age.

The best solution for all products is to get the insurance coverage you need today and worry about the discounts for nonsmoking when you are actually considered a nonsmoker by the insurance industry. Until you have out tobacco behind you for at least 6 months, you cannot qualify for any discounts anyway, and delaying on an important insurance policy could cost you a lot more than the discounts you are trying to save.

When you are smoke free, contact your insurance agent and let them know. You will be given any discounts that you've earned for your liability coverages, and your health insurance will go down because you're a lower health risk.