How Accurate Are Online Car Insurance Quotes?

Online auto insurance quote forms are designed to gather all the relevant details required to calculate the premium down to a penny accurate. However, they require a few key details to achieve this objective. Motorists need to enter driver’s license details for all the insured drivers, Vehicle Identification Number (VIN) of the car and applicant’s social security number to get a quote they can rely on and buy the policy whenever they are ready.

The VIN gives carriers everything they need to know about the car like its make, model, age, engine size and any title issues. Details of the vehicle to be insured is a very important factor and affects the premiums significantly. Once they know the Vehicle Identification Number and get everything they need about it, there won’t be surprises at a later stage that require auto insurers to adjust the premium due to new information about the car.

Another key factor in premium calculations is driving history. Car insurers can check Motor Vehicle Records and find out about applicant’s driving records. Traffic convictions, driver license points, accidents and license suspensions will show there. But they need driver license numbers of the drivers listed to carry out this check. By doing so, they make sure there are no surprises later on.

In states it is allowed, credit score is the next significant piece of information used in calculating premiums. And vehicle insurance companies need applicant’s Social Security Number (SSN) to be able to request a credit pull and see all the details they need to include in their pricing algorithms. SSN is used in carrying out other checks that allow companies to confirm things like marital status.

For an accurate online car insurance quote, motorists need to fill in the form as best as they can and provide the required documentation numbers so that companies can carry out their checks. If all the information available there is no reason why a quote won’t be accurate.

Besides, motorists need to provide the exact same information if they want to get a quote from an agent face to face or over the phone. There is no difference in what details are needed. Nevertheless, some people may not be comfortable with giving all their sensitive personal documentation numbers online for some reason.

There may have been some issues in the early years of the Internet. But websites can securely gather information including credit or debit card details and process them safely thanks to encryption technology. People still need to make sure that they are on the right website though.

Still, many automobile insurers entertain quote requests without SSN, driver’s license number and even VIN as long as all the relevant details and additional questions are filled and they are given enough information to work out a price. For example, they ask people to rate their credit score and fill in all the relevant vehicle details manually.

Then, they offer car insurance quotes without confirming the details with the above-mentioned sources, assuming applicants did their best to furnish them with the answers. They work in the spirit that quotes are essentially estimates based on current information and it may change if new details emerge. Some insurers give out millions of quotes every year and often they don’t have a great take up rate. So, some of those people they priced may never come back anyway.

Assuming the applicant comes back and wants to buy the policy, the final price won’t be materially different if they filled the quote form accurately and everything checks out. Companies will want the VIN, driver license numbers and SSN in the end to be able to verify the information before they can sell the policy.

In conclusion, online auto insurance quotes can only be as accurate as the information provided to the companies. So, motorists need to do their best to fill the forms so that they can rely on the results delivered to them in their comparison shopping.

If you are just curious and want to see rough estimates, it may be alright to get quotes without giving personally identifying details. But you may need to be more forthcoming if you don’t have any coverage at the moment and you need car insurance now. You will need to give all those details anyway once you decide to purchase the policy.