How is my car insurance rate set?Let's look at what happens when you submit an application for car insurance. First, you are sorted into an individualized group based on each piece of information in your application, as well as other sources. Once your customized group has been determined, the insurance company calls up the pricing information for that group. Finally, any discounts you qualify for are subtracted from the price, and your quote is returned. The entire process is completed by sophisticated software behind the scenes, based on information you enter online or an agent types into a computer.Automobile insurance is like any other insurance; it protects the person insured against losses --- in this case involving the use of automobiles. Various types of cover may be bought, depending upon the state in which one resides (liability insurance is mandatory in most states).
Auto insurance premiums to an insurance company can be paid monthly, bi-annual, annual or on a flex plan, where they actually give you 3 payment choices on each statement. This means that you are ?covered' against financial loss for events outlined in the insurance policy.
The policy itself is the document that outlines what your coverage is depending on different scenarios, and most states require you carry proof of auto insurance while operating a motor vehicle.
Auto insurance premiums to an insurance company can be paid monthly, bi-annual, annual or on a flex plan, where they actually give you 3 payment choices on each statement. This means that you are ?covered' against financial loss for events outlined in the insurance policy.
The policy itself is the document that outlines what your coverage is depending on different scenarios, and most states require you carry proof of auto insurance while operating a motor vehicle.
