Cheep Vehicle Insurance, How Your Vehicle Insurance Rate Is Determined
Posted on Saturday, Jul. 25th 2015 9:50 AM by Online Auto Quotes in Vehicle Insurance No Comments »
There are two main factors that determine what you pay for your vehicle insurance. The first factor is underwriting and the second factor is rating. Insurance companies underwrite to assess the risk associated with an applicant, group the applicant with other similar risks and decide if the company will accept the application. Based on the results of the underwriting process, the rating assigns a price based on what the insurer believes it will cost to assume the financial responsibility for the applicant’s potential claim.
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Posted on Saturday, Jul. 25th 2015 9:50 AM | by Online Auto Quotes | in Vehicle Insurance | No Comments »