How accurate are car insurance quotes?

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Written by Michael Foote , founder of Quote Goat, with over 13 years experience working in the finance, insurance and currency sectors.

Nobody likes to get a bad deal, especially on something as costly as car insurance. After all, an incorrect car insurance quote can put you well over your budget after you account for the cost of the car, road tax and monthly fuel consumption.

Car insurance comparison sites are a popular choice for finding the best insurance policy as they are able to take your details and see how much a range of insurers would charge you quickly and easily. Before these types of comparison services, it was down to the driver to go to as many insurance lenders as they possibly could in order to find the best price.

How do you know if the quote you have received for your car insurance is the best deal?

Firstly, it’s important to know how lenders calculate your car insurance. This involves collating some useful information on the driver including their age, gender, claims history, other named drivers’ details and the car insurance group of the car being insured – a rating given every vehicle by the Association of British Insurers (ABI).

Separately, this information may not mean much, but collectively it gives insurers an idea of the level of risk you pose as a driver.

How do you make sure your car insurance quote is accurate?

Your car insurance quote is determined solely on the information you provide to the questions they present you. To make sure you receive the most accurate policy it is of paramount importance that you make sure all the information you submit is accurate.

If you are ever unsure about any of the questions being asked, FAQ pages are available online, or you can contact someone directly for more information to make sure you are 100% sure that the information you enter is correct.

Any changes in circumstances that occur – for example a change of address, changes in health condition or points on your license – can affect your policy. These changes must be presented to your insurance company, even after you’ve already received a quote as they may make your car insurance policy redundant.

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