 |
How Is Car Insurance Calculated? |
Question by AK | Posted in Insurance & Registration
I'm 16 and I'm buying a used car, need to know how car insurance can be calculated.
Also what attributes of a car make it cost more?
Answer: Every company has their own formulas to calculate rates. It depends on your age, where you live, how far you drive, car value, if its popular to steal, what other people with the same car do, etc.
Generally fast cars, cars popular with teens or old people, and ones that are stolen a lot cost more. |
| |
How Is Insurance Calculated? |
Question by murad | Posted in Insurance & Registration
I am in Canada and plan to buy a car but everyone tells me a new story abt insurance. They say its more for a 2 dr and less for a 4 dr and it varies from brand to brand, my age and GOD knows what? Any site or any method to calculate. I am getting a nice deal on a car but its 2 dr and I dont want to pay more insurance. Please help.
Answer: Rates are based on many factors:
You: Age, gender, driving record, claims history, insurance score (which includes credit as one of the factors - I don't know if this is used in Canada - it is in the US), where you live (high or low crime, accidents in the area - maybe there are some bad roads or bad intersections around that have a lot of accidents)
Car: Year, make, model, value, accidents & claims related to the vehicle, cost to repair.
How the vehicle is used: Pleasure, drive to work or school (& how far one way) or business use.
Coverage: Limits of liability, medical, uninsured motorist, if you want comprehensive and/or collision & the deductibles |
Related Topics:
Medical Insurance Agency
Supplemental Health Insurance Plans
Short Term Health Insurance Blue Cross
| |
How Is The Cost Of Insurance Calculated In A Whole Life Insurance Policy? |
Question by Jeffrey | Posted in Insurance
Answer: The cost of insurance in a life insurance policy is what it is; it doesn't matter if it's term, whole, or universal life. The difference in premiums is a factor of the insured's age, gender, health, and the term or expected duration of the coverage. Whole life is more "expensive" because the cost of insurance is based on the insured's entire life expectancy. In other words, the risk to the insurer is not the slim probability that the insured will die within a particular number of years; it is the assumption that the policy will be in effect at the time of death and the policy will definitely pay a death benefit.
ADDED: Ignore "magicbird" altogether. |
Related Topics:
Medical Health Insurance Company
Top Car Insurance Company
How Is Insurance Calculated
Understanding How Insurance Rates Are Calculated In Alabama « Auto ...
by Hayden Krueger
You might be wondering how insurance companies calculate your auto insurance premiums. Depending on your location, your local government or the insurance companies in your area normally determines your auto insurance rates. Using pre-defined regulations set by your local administration, insurance companies are able to give you fast and accurate calculations. When insurance companies determine your rates, it does not rely on one single factor alone. Interestingly, not all insurance companies see these elements all the same, and that is why there are slight variations with the computations itself if you try to compare the quotes from the other providers....
Read more...
|
By ANN CARRNS How will that speeding ticket you just received affect your