From the Office of the Insurance Commissioner
Consumers frequently ask us this
question. Your agent or insurer should be able to provide you with an
explanation other than “there was a general rate increase.” We recommend
that you obtain a policy-specific premium breakdown directly from your
agent, and that you ask for a rate worksheet comparison between your old
premium and your new premium.
Every policy is priced differently, depending upon the type of coverage you want and what are called underwriting factors.
Underwriting factors for auto insurance may include:
Questions? You can contact our consumer advocates online or at 1-800-562-6900.
Every policy is priced differently, depending upon the type of coverage you want and what are called underwriting factors.
Underwriting factors for auto insurance may include:
- Household/family driver records.
- Driver(s) age(s).
- Type of vehicle(s).
- The number of miles you drive per year.
- Where you live and/or drive your car.
- Level of coverage being purchased
- There may be surcharges or discounts unique to your situation.
- The age of your home.
- The materials used to build your home.
- Your home’s value, as based upon its size and features.
- Your home’s location.
- Prior claims or losses for the home.
Questions? You can contact our consumer advocates online or at 1-800-562-6900.
You don't mention that insurance companies will also factor in your credit rating and increase your premium if your credit is poor.
ReplyDelete