The phrase "lowest quote" refers to the lowest price or cost offered for a particular product or service among different options. It means choosing the option with the cheapest price. Full definition
We hunt for the best rates in the insurance market looking for low quotes for your home insurance needs. (usacoverage.com)
These companies know that you are shopping around and comparing rates, so they will provide you with lower quotes in order to snag you as a customer. (autoquotenow.com)