Question

What do insurance companies look at to determine your premium?

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What do insurance companies look at to determine your premium?

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What do insurance companies consider when they determine your premium How can you get the lowest premium on your car insurance?

How does an insurance company determine what premium it must charge policyholders?

Answer 1

Correct answer is: They look at things like how likely a disaster or accident is, and the likelihood of a claim being filed, and how much the company will be on the hook for paying out if a claim is filed. They put this information into a chart called an actuary table (if you must know) and give this to a person called an underwriter.Sep 27, 2021

The title of my answer can be What Is an Insurance Premium? | RamseySolutions.com