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In this video, Mark from Think Insurance explains the difference between an insurance quote and a policy. An insurance quote provides a general estimate of coverage costs but does not account for specific individual factors. The video also touches on the application process, which lies between a quote and a policy. Mark will discuss the factors that affect quotes and the best way to obtain one, including different coverage package options. These options often range from basic to more comprehensive coverage, depending on the insurer's offerings. It's highlighted that a quote typically reflects basic coverage and may not include detailed questions necessary for accurate pricing.