Auto insurance how do they base it?
Question:
Answer:
Insurance is based on many factors, some in your control some not. Examples of factors in your control : age, driving record, credit record, sex, marital status, your zip code, miles driven, where the vehicle is stored, vehicle options, type and age of vehicle, any previous claims. These are factors beyond your control : average cost to fix your vehicle based on other vehicles of the same type, amount of accidents involving same type of vehicle, insurance company loss record. Insurance rates always jump after a major disaster. Hope this helps.
they base it on the amount of driving you do, driving history, age, tickets, wrecks, metropolotain area you live, some small amount on your history with them and on their co. policy.
Your premium can be based on all of the following: driving record, claims filed, credit score, and zip code.
The driving and claims stay on your record for around three to five years, then they usually reset. Companies are raising rates much quicker than they used to, even for small claims. My condolences.
Well basicly it was supposed to be based on, the age of the vehicle, the used of the vehicle, the ownership (company or private), claim record, etc..etc..but sometimes if your a loyal client of the insurance company, and you got an accident and claims to the insurance company sometimes...they can consider you for exgracia..it means it's actually not in the insurance company obligation to pay for the loss, but there are some other consideration that they willing to take since you have contribute a fair amount of premium
Everything.credit score, claims (not at fault and at fault), the kind of cars you drive, where you live, the age of drivers on the policy.
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