How is your insurance Rate determined? Two factors determine what you pay for car insurance. The first factor is underwriting and the second factor is rating. Insurance companies underwrite to assess the risk assocated with an applicant, group the applicant with similar ists and decide if the company will accep the applicaton.
Several Factors Affect Risk Rating
Your driving record, area in which you live, gender and age, marital status, prior insurance coverage, vehicle use and make and model of your vehicle are all factors that will affect the rate.
Ask Your Agent About Discounts
Discounts are awarded because the insurance company sees you as a "better risk" Discounts to look for:
- Multiple Vehicles
- Driver Education Courses
- Good Student
- Safety Devices
- Anti-Theft devices
Collision Coverage pays for physical damage to your car as a result of you auto colliding with an object such as a tree or another car.
Comprehensive Coveage covers fire, vandalism, & theft.
Optional Coverages require an additional premium
Read you policy carefully:
You should be aware that an auto insurance policy is a legal contract. It is written so your rights and responsibilities as well as those of the insurance company are clearly satets. When you purchase an auto insurance you will receive a policy. You should read that policy and make certain that you understand its contents.
If you have questions about your auto insurance policy contact the Watts Team
Auto Insurance KY
Dick Watts Insurance
Buying Auto insurance
Disclaimer: Every insurance policy is different. The above is an example only. Read your own policy to find out exactly what is covered.
No comments:
Post a Comment