Why Are My Auto Insurance Quotes So High?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    If you live in California your automobile insurance rate is governed by a few variables.  The rating factors are, the year, make and model of the car, ages of the drivers, the driving record of all the members of the household, the loss record on members of the household, the annual mileage, and the location of the household.  Insurance companies compile statistics and must prove to the insurance commissioner the rate that they are charging.  Ultimately, the reason that rates are so high is a reflection of claims.  It is not a moral issue it is a financial issue.
    Answered on May 16, 2014
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