0
What criteria do insurance companies use when determining the cost of car insurance policy premiums?
Wiki User
∙ 12y ago
- Credit (except in California)
- Age of the driver
- Garaging location of the car.
- Method of payment (1 pay, monthly, automatci payments)
- Driving record (tickets & accidents in the past 3, sometimes 5 years).
- Type of vehicle.
- Type of coverage you get.
- Occupation of driver
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
How are insurance companies funded?
Insurance companies' sources of funds are primarily policy premiums.
Which companies offer the cheapest health insurance premiums?
"There are many companies that offer cheap health insurance premiums, but they vary for everyone. It depends on your health record and history. Some of the companies are Blue Cross and Humana."
Where can someone compare the premiums for different companies vehicle insurance?
Someone is able to compare the premiums for different vehicle insurance companies at a company called Progressive, where one is able to compare other top car insurance rates.
Why are musicians banned from car insurance?
They are not. Though many insurance companies charge them higher premiums.
Where could one compare motorcycle insurance premiums?
One may compare motorcycle insurance premiums at a number of the top insurance companies websites. One such company is Progressive, which offers the ability to compare your savings with the savings of other top companies.
Why does the insurance company get paid back the money Isn't that why we pay our premiums?
You pay premiums because insurance companies are a business and they are there to make a profit. Also, the premiums you pay go into a pool of money so the insurance company can pay out claims when necessary.
Does a motor accident claim drive up one's insurance premiums?
A motor accident claim will make one's insurance premiums go up. Most insurance companies will do this at the time of renewal though.
Which companies offer the cheapest luxury car insurance?
All major car insurance companies offer luxury car insurance. The premiums vary depending upon the year, the make, the model, the mileage, and the condition of the car and other factors. Your past driving record will also impact your car insurance premiums.
How insurance companies make money?
Insurance companies make money by collecting premiums and deductibles from customers. Not everyone will ever use their insurance policy, so the company profits from those cases.
Do you pay car insurance per month?
Most insurance companies will allow clients to pay their insurance premiums monthly, quarterly, semi-annually, or annually.
Which auto insurance companies offer safe driver car insurance discounts?
Progressive and Elephant insurance companies advertise how they reward good driving with partial refunds of insurance premiums. In general, all insurance companies offer lower rates to those with better driving histories.
It is generally found that premiums for automobile insurance are higher for red cars when compared to cars of other colors Typically to justify these elevated rates the insurance companies will cit?
This is totally untrue. Color has NOTHING to do with your premiums.
