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How is my vehicle insurance premium calculated?
Insurance rates are set on a simple concept: the higher the risk we take in possibly having to reimburse you for an insured loss, the higher we calculate your premium.
We calculate the rate for your vehicle by looking at several factors, including:
- What kind of vehicle you drive
- Where you drive your vehicle
- How much you drive your vehicle
- Your driving record and claims history
- Your driving experience
- The amount and kind of coverage you have purchased from us
- The deductible you have chosen
Premium rate calculations are also influenced by changes in government regulations and taxes. Also, the costs of court awards, towing fees, repair costs and insurance fraud all have an impact on how premiums are determined.
