Sentences with phrase «insurers calculate risk»

Your Neighborhood — another big way that auto insurers calculate risk assessment for policies is based on the location where the car is primarily garaged.

Below we'll take a look at how insurers calculate risk to determine how much you will pay for your auto insurance.

Every insurer calculates risk and premiums differently, which means insurance quotes for one person often differ by hundreds of dollars.

Not exact matches

Insurers take a calculated risk when they extend coverage to someone and your financial situation influences what they charge.

Without this exam, insurers take on greater risk, as they now must rely upon less accurate information to calculate your life expectancy.

An underwriter will use actuarial tables and other risk calculation tools to calculate the price of the insurance policy so that it minimizes risk to the insurer while still remaining competitively priced.

Insurers spend their days calculating and recalculating risk probabilities — that's how they are able to turn profits.

Also, each insurer uses its own formula to calculate risk and your rates, which means the price for the same policy can differ by hundreds of dollars.

Insurers take your data — such as your age, your driving record, your address and your profession — and then they each have a different way of calculating your risk.

Without this exam, insurers take on greater risk, as they now must rely upon less accurate information to calculate your life expectancy.

The insurers try to prevent this from happening by building complicated financial models, which calculate the risk that a «loss event» will occur and the cost of that loss using a wide array of factors.

Insurers can provide this coverage at relatively cheap rates because they have a calculate risk for a specific benefit amount and specific length of time.

The combined sum assured of all policies should not exceed your human life value, which is the risk assessment calculated by your insurers at the time of policy application.

There's no single insurer that has the lowest rates, because every company calculates risk differently.

Car insurers will calculate their premiums based on risk.

An underwriter will use actuarial tables and other risk calculation tools to calculate the price of the insurance policy so that it minimizes risk to the insurer while still remaining competitively priced.

Age affects how insurance premium is calculated crucially - younger people are healthier and therefore get the best premiums, while older people, more prone to health problems, pose a higher risk to insurers, hence premiums are higher too.

Although all auto insurers claim to calculate premiums based on the risk you present as a driver, the results of those calculations vary wildly from one company to another.

The Terrorism Risk Insurance Act (TRIA), passed by Congress in November 2002 and renewed in 2007, provides a federal backstop for future terrorist acts, making it easier for insurers to calculate their maximum losses for such a catastrophe, and thus price the coverage.

The price of an auto insurance policy will vary significantly among insurers because each company assesses risk differently and uses its own formula to calculate what you pay.

The equations auto insurers use to calculate rates and risk are heavily - guarded trade secrets, and they differ slightly between companies.

Some insurers don't consider your skill level or certifications in calculating your risk rating.

If you want to save money on your home insurance policy, it helps to understand the key factors insurers use to measure your risks and calculate your rates.

Insurers use these factors to calculate the cost of your all - risk insurance coverage.

Many auto insurers these days take a few days to calculate your risk and send you back a price quote.

That's because one of the biggest indicators of risk used by insurers when they calculate your premiums is your record of making claims.

Nevertheless, insurers also assess financial responsibility, lifestyle and behavior when calculating risk and premiums.

Insurers consider traffic volume and higher risks for theft, hit and run, and other perils in calculating your insurance rate.

The basic premise behind life insurance is that insurers calculate the odds of a person dying and then price life insurance coverage based on those risks.

Auto insurers have their own ways of determining risk and calculating how to deal with the driving record of their policy holders.

The Rhode Island AIP calculates each insurer's market share in Rhode Island, and assigns an equivalent share of high risk drivers to respective insurers.

When insurers calculate how much of a risk you pose, your credit score is usually a pretty fair indicator.

Insurers historically used these guidelines to calculate premiums for a variety of properties with a high risk of sustaining flood damage, particularly rates for buildings where the lowest floor elevation is below the Base Flood Elevation (BFE).