How Are Car Insurance Premiums Calculated? : Auto Insurance

Subscribe Now:

Watch More:

Car insurance premiums are calculated using a few different pieces of information. Find out about how car insurance premiums are calculated with help from an independent insurance agent and small business owner in this free video clip.

Expert: Melissa Morley
Filmmaker: Scott Studach

Series Description: Car insurance is a complicated topic, which is why it is very important to make sure that you're finding a policy that meets both your preferences and your needs. Get information about various types of auto insurance with help from an independent insurance agent and small business owner in this free video series.

[jimmyskinner]

INSURANCE PREMIUMS: I haven’t had a wreck in over 40 years. I haven’t had a ticket in over 30 years. i drive to town from the country about 2 or 3 times a week. I am retired and on a fixed income. I don’t go out and party or drink or smoke. YET… My ‘’’liability’’’ insurance ONLY is as high as my brother’s insurance. His insurance is only $100 higher than mine: YET, he has complete coverage. COMPLETE COVERAGE. From bumper to bumper. He has a 2017 Chevy Silverado 4 door cab. I have a 2005 Chevrolet 1500 which is valued at only 1500. IT'S ALL A CROOKED SCHEME.

[GorillazGames]

I don't even understand why there are so many factors that determine the rate. If it's the law to have insurance, than there should just be base rates and different levels of coverage. Credit shouldn't matter, age shouldn't matter, gender shouldn't matter, the type of car shouldn't matter, how many cars shouldn't matter, how many miles you drive shouldn't matter Etc. All of these factors are just a means of extracting more money from the public.

[Beccanoll]

I heard that they are no longer discriminating against gender.