![]() How your insurance rates are set also depends in part on which state you live in, because rates are regulated on a state-by-state basis. They want to stay competitive with other insurers in the markets they do business. ![]() They want to balance their risk by charging higher rates to drivers who file more costly claims, more often and lower rates to those drivers who file less expensive claims, less often. They need to make enough money to cover all their policyholders' claims and pay their overhead expenses (staffing, light bill, phone bill, etc.), and if they're publicly held, still have enough money left over for their shareholders. Most insurers have three basic goals in mind: Each company also has its own surcharges and discounts available that impact these rates. Each insurer has thousands of auto insurance rates in every state it does business-rates for each type of car, each driver and every geographical area in the state. How does my auto insurance company decide what it charges me? That's probably the most asked, least understood question about motor vehicle insurance coverage. Your car insurance is really six separate policies-some are required, others optional-carefully weigh your risks when buying protection for you and your family. CO Insurance Consumer Satisfaction Poll.Wildfire Mitigation: Colorado Homeowners Survey.Factors Affecting Homeowners Insurance Cost.CO Auto Insurance Marketplace & Fact Sheet.Seat Belts, Air Bags & Child Passenger Safety.NM Personal Insurance Credit Information Act. ![]() ![]()
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