The phrase "predetermined rate" means that the rate or price has already been decided or set in advance. It does not change and remains fixed. Full definition
When you buy home insurance directly from a carrier, you'll be locked in to a handful of options at predetermined rates. (trustedchoice.com)
There are many consumers who believe that each insurance company predetermines their rates for motorists. (carinsurancequote.net)
You may be surprised at the number of motorists who believe than an insurance company predetermines its rates before it issues a consumer a quote. (carinsurancequote.net)