What Information Do Car Insurance Companies Use to Determine Your Rates?
Insurance companies enter your set of rating factors into their unique rating algorithms to determine your premium – that is, what you pay for insurance coverage.
So how do car insurance companies determine what you pay?
Your Driving and Claims HistoryAny accidents or tickets in the past three years would affect your car insurance rates – potentially by a lot.
as informed in There are a number of factors that insurers take into account when calculating carinsurance premiums, and often little tweaks to some of these can help you cut your car insurance costs.
Why have car insurance premiums increased?
So insurance payouts are expected to become much higher – which in turn, means that the extra anticipated costs are being passed on in the form of increased carinsurance premiums for drivers.
Do remember to always be honest with your answers when applying for carinsurance.
Have you noticed your carinsurance premium increased in 2017?
as informed in
Navigating Minnesota Car Insurance Laws
In Minnesota, No-Fault Insurance is required for all owners and drivers of cars and trucks (motorcycles are different).
Carinsurance laws in Minnesota can be very confusing, but hopefully this sheds a bit of light on two major sources of arguments after accidents occur.
In Minnesota any medical expenses due to injuries in a car accident, regardless of fault or not, are paid by your own insurance company.
On any carinsurance plan in Minnesota, you’ll notice coverage called Personal Injury Protection (PIP) is required upon purchasing.
This is the coverage that pays what’s called “No-Fault” medical expenses.
collected by :Olivia Mathio