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How do insurance companies determine how much you should pay for your insurance coverage?
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5 votes
How do insurance companies determine how much you
should pay for your insurance coverage?

User Jagdish Barabari
by
5.6k points

2 Answers

4 votes
It's calculated based on your credit score, your accident history, and your insurance history. When you apply for auto insurance, insurers will calculate your rates based on a number of factors — including your age, ZIP code and the make and model of your car.
User Jeremy Wong
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7 votes

Answer:

After you provide the insurance company with documentation of your expenses related to the accident and a claims adjuster has assessed your vehicle, the insurance company will determine how much money they will pay. This amount is determined by the strength of your liability claim and the extent of your damages.

Step-by-step explanation:

User FunksMaName
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