Agent/Agency Owner, Encore Insurance Group of Omaha, Omaha, NE
AutoAuto in insurance rates are determined by many factors such as
age
area you live
credit
driving experience type of vehicle other policies withthe company
each company has different underwriting rules and rating factors so do not be afraid to ask you agent which company fits best for you and why. In most cases an independent agent can shop for you and find out what company will give you the best rating
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The major factor in fixing auto rates is claims. If the company pays out more in claims than it receives in premiums, the state commissioner will authorize the company to increase their rates. Actuaries are people who segment the market and track the claims for every conceivable segment. That is how they can use the year, make and model of your car, the number of miles you drive, the location of your car, the driving record of the members of your household, your previous claim history and develop a specific premium for you.
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age
area you live
credit
driving experience type of vehicle other policies withthe company
each company has different underwriting rules and rating factors so do not be afraid to ask you agent which company fits best for you and why. In most cases an independent agent can shop for you and find out what company will give you the best rating