How Is Car Insurance Quote Calculated?

  1. 627 POINTS
    Dan Lyles
    agent, Lyles Insurance, Wheelersburg, Ohio
    There are a lot of factors used when calculating auto insurance rates. Each company has their own formula for calculating rates. Factors they use include age, gender, location, marital status, driving record, credit rating, type and value of vehicle, residential status (owner vs renter), and prior insurance coverage, and claims history all can factor into the rate.
    Answered on March 24, 2014
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