im trying to build a database insurance system for cars only and i wanna know how to calculate different types of insurance fees for this category and if there are certain terms and policies i should consider
2007-03-23 00:32:23 · 9 answers · asked by ZaZa 1 in Business & Finance ➔ Insurance
Insurance company premiums have to be filed by the insurance company with the state insurance departments. The premiums are based on actuarial studies of the incidence and magnitude of loss. Cars and drivers that have a statistically significant deviation from average (either more risky or less risky) have premiums adjusted accordingly. Young drivers have a higher incidence of accidents than do older drivers -- so their premiums are higher. People who have been in accidents have a higher probability of being in more accidents -- so their premiums are higher. Women in their 50s tend to be safe drivers -- safer on average than the population at large. So their premiums are lower.
Auto insurance is a fairly competetive industry because there is nothing to keep a driver from changing insurance companies at the drop of a hat, and insurance companies want the business.
2007-03-23 00:50:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I suggest that you visit this site where you can compare quotes from the best companies: http://COVERAGEDEALS.NET/index.html?src=3YApeahbNF38
RE :How do companies determine car insurance fees?
im trying to build a database insurance system for cars only and i wanna know how to calculate different types of insurance fees for this category and if there are certain terms and policies i should consider
Follow 8 answers
2016-11-26 13:30:45 · answer #2 · answered by ? 6 · 0⤊ 0⤋
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RE How do companies determine car insurance fees?
im trying to build a database insurance system for cars only and i wanna know how to calculate different types of insurance fees for this category and if there are certain terms and ...show more
2014-10-02 14:54:21 · answer #3 · answered by ? 1 · 0⤊ 0⤋
I would recommend that you try this website where onel can compare rates from different companies: http://COVERAGEDEALS.NET/index.html?src=2YAngvbfNY80
RE :How do companies determine car insurance fees?
im trying to build a database insurance system for cars only and i wanna know how to calculate different types of insurance fees for this category and if there are certain terms and policies i should consider
Follow 7 answers
2016-08-23 18:16:00 · answer #4 · answered by ? 6 · 0⤊ 0⤋
Well, companies spend millions of dollars buying the data, and hiring actuaries and risk managers and lawyers to calculate the fees, and consider terms and policies.
None of this information is public - and all of it requires the above people. So good luck on that.
2007-03-23 00:54:34 · answer #5 · answered by Anonymous 7 · 0⤊ 1⤋
They try and charge you the highest fees they can before you change companies. They have assigned a number for you in the data base that indicates what level sucker you are.
2007-03-23 00:38:31 · answer #6 · answered by victorschool1 5 · 0⤊ 1⤋
The typeof car is important in the rating system. But the biggest variable is the driver: age/sex/driving record. If these 3 are matched with a sports car, premiums are through the roof.
2007-03-23 00:44:05 · answer #7 · answered by Lone Papa 2 · 0⤊ 1⤋
Compare insuran ce quotes
2014-12-26 19:01:51 · answer #8 · answered by ? 1 · 0⤊ 0⤋
You can easily get and compare quotes from different companies at: INSTANT-INSURANCE.NET
2014-05-15 12:07:33 · answer #9 · answered by Anonymous · 3⤊ 0⤋
Try https://tr.im/PTbJH
2016-07-07 17:07:27 · answer #10 · answered by Brande 5 · 0⤊ 0⤋