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In this video, Mark from Think Insurance explains the difference between an insurance quote and a policy. An insurance quote is a generalized idea of coverage costs, not taking into consideration some factors. The video discusses factors considered in a quote and shows the best way to obtain one. Different coverage packages such as basic, good, and better are options to choose from. Some companies offer various packages, so it's important to choose the one that suits your needs. Quotes typically do not ask in-depth questions, so make sure to consider all factors before finalizing your policy.