Why The Fastest Car Insurance Quote Is Never The Best

Fast is best, right? Well, if you're a racing car driver

, yes. For those of us that have to weigh up a whole variety of different factors, every time we choose between speed and another benefit .. the answer is not so clear cut! For example, a slow-cooked roast is much more delicious than a hurried one .. explanations definitely do not improve with speed .. and who wants their weekend to go by in the blink of an eye?! Strangely enough, the same is true of car insurance, and getting car insurance quotes. It can be a bit of a pain, so most of us are naturally drawn to the ads that boast of 'Quick Quote facilities', or 'Insurance quotes in only ten questions'. Today, we want to explain why fast is never ideal in the world of car insurance quotes .. and why slow is so much more satisfying.

What All Insurers Want to Know

Some questions are standard across the industry, and if a car insurance company insists they don't need this information in order to give you a quote, they may be 'rounding up' your risk; that is, assuming that your risk of having an accident or incident is greater than others and they charge you accordingly on your car insurance premium. These standard questions include:

Car make and model

Your address

Security at home

Age and driving experience of listed drivers

Claims history

Going Over and Above

Some car insurance quotes have more questions. These car insurance companies aren't doing this for market intelligence, or because they're just being nosey. They want to make an accurate assessment of the risk that insuring your car will be, and charge you accordingly .. hopefully saving you money in the process! If you get questions like this on your car insurance quote form, don't run a mile .. be thankful they are lumping you in with everyone else but rather seeing how you use your car!

The Fast Quote vs The Good Quote

Back in the old days, when actuaries did calculations based on books of statistics by hand to get an insurance premium, you could wait for weeks to get a quote. The experience might have been so traumatic that you'd never change insurers in your life.

New technology makes it possible for car insurance companies to give more accurate quotes, incorporating more data points in to the assessment, than ever before. Where those points reduce your risk, they will also save you money on your car insurance premium. And when it only takes a couple of extra seconds, not a couple of extra weeks, you can see why a little slower is a lot better!

by: Hugo Shreuder

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