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Although the vast majority of drivers still purchase insurance through the old-fashioned way from agents, this old trend is gradually shifting to a new method that more and more people are now buying insurance online. Most major insurance companies have created easy-to-use forms on their official websites, allowing customers to renew or purchase coverage via Internet. Potential customers are even provided with a tool/calculator to get an estimated car insurance cost. In case you are not familiar with car insurance calculator, it is a tool for you to basically predict the average amount you should pay for the coverage. Advantages When an insurance company provides online-buying system, customers get two immediate benefits. First, it eliminates the needs for third-party agents including captive and independent agents. While captive agents can be considered a company’s representatives, they often persuade you to purchase coverage as soon as you request for quotes. Independent agents work on your behalf, and you may have to pay for their services. Although there are multiple services provided by either agent, you can easily regard the agent as car insurance cost estimator. Second, you have the chance to learn basic knowledge of insurance especially about what factors that affect your premium fee. An estimated car insurance cost suggested by an online calculator is determined based on your data including car model, address, annual mileage, past infractions, etc. Each of those factors helps to determine the final cost. You can change the data in the forms and see how each factor affects your premium. Online car insurance calculator is often available from independent websites as well. This tool is free to use, and you can get multiple quotes from different companies with one-time calculation only. Every calculation usually takes less than 5 minutes, meaning you will be able to make proper comparison in no time. Disadvantages Free online car insurance calculator, no matter how good it is, will only give an estimated car insurance cost or approximate calculation, which is possibly different (regardless how slightly) from the actual amount you should pay. Some factors such as credit card score and possibility to be eligible for discounts are most likely excluded from the equation. Unlike captive or independent agent, the online tool does not put your own financial circumstances and other related issues into account. Such tool can indeed be a very quick car insurance quote calculator, but you still have to contact insurance companies to get detailed estimation. Estimated car insurance premium generated by online tool cannot be as accurate as real live agent. However, it gives general idea of the amount you should pay, and it is a good thing since it leads you to be budget-minded insurance customer.
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