Sentences with phrase «substandard risk»

There are standard and substandard risk classes.

Basic Auto Policy: Although still used today to insure substandard risks, two - wheel motorized vehicles, and commercial autos, the Basic Auto Policy has been primarily replaced by the Personal Auto Policy, which combines both physical damage coverage and liability insurance for claims arising out of the ownership or use of a vehicle.

An additional premium is charged for substandard risks due to the higher probability that the insured will have a shorter lifespan than those who are a standard risk.

However, there are about 10 - 15 % of the population with medical problems and will therefore be considered substandard risks.

Due to the possible exclusion of preexisting conditions and any additional waiting periods, substandard risk applicants should not consider replacement.

Rootfin rarely uses ING for substandard risks.

If this has happened to you, it means that your policy was rated and you were classified as a substandard risk.

If you're a substandard risk, their table rating pricing is in the top 2 of the industry.

An applicant rated as «substandard risk» is commonly in poor health, has already manifested a preexisting condition that is beyond the standard risk classification (based on the underwriting review), or might engage in a dangerous hobby or occupation.

A person who in this category will pay a higher premium than a person who is classified as a standard risk because it costs more for an insurance company to insure a substandard risk.

However, if your height / weight is beyond the average, then this may cause you to move into a substandard risk class.