Why are my rates mounting so higher!

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PostPosted: Tue Feb 20, 2007 6:36 am   Post subject: Why are my rates mounting so higher!  


Can anyone explain it to me why the auto insurance rates vary so much ? I'd also love to know how these rates are determined and what is it that decides my insurance rates! Thanks, Jerome Reeve

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Jerome Reeve

PostPosted: Tue Feb 20, 2007 6:52 am   Post subject: Hi yeah!  

Hi yeah..I'll answer your personal question. Lets be sure that there are a number of factors that count while deciding your insurance rates. Your track record with respect to your driving, the purpose, the place, the age of the car are some of the vital factors that come into play while deciding the rates. Regards, Fatman.

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PostPosted: Tue Feb 20, 2007 7:14 am   Post subject:   

Hi Jerom!

The statistical history plays a key role while fixing your present rates. Thus the rates are decided upon the amount that meets the claims and other expenses towards business development. Got it ? Norma.

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PostPosted: Tue Feb 20, 2007 7:40 am   Post subject: basic causes..  

Hi all...there are some basic causes that lead to these variance of rates, like the past claims expenses, cost of operations as well as the non-claims expenses. All these would contribute towards mounting the rates higher n higher. All we may do is to hope for the best, Billy Morris.

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Billy Morris

PostPosted: Tue Feb 20, 2007 9:10 am   Post subject: whats really counts!  

Salaries towards claims n the leased house expenses would also count towards it!

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PostPosted: Fri Feb 23, 2007 9:41 pm   Post subject:   

I think the question was why rates vary (from company to company) so much, not how a carrier determines rates.

One reason is that a company may favor certain things... usually it's a demographic area. A carrier may be looking to branch out into a certain area and therefor they write lower rates to attached that business. Some may find older/younger, etc people a better risk then other carriers.

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PostPosted: Thu Mar 22, 2007 10:32 am   Post subject:   

Rates may also vary upon the type of CAR you buy... Again the demographical factor is a vital one in deciding that.

Just go to


You will find out Quotes for different pin codes,, you mention for GEICO

For example

Motorcar premium rates in India are already said to be among the lowest in the world. Compared to the insurance rates of about 7 per cent of sum insured, premium rates here are only about 3 per cent of sum insured. For instance, a Maruti Alto car costing about 6000 $ would incur an insurance premium of about 200$ per annum.

Car insurance companies have two basic methods of establishing premiums for your automobile. They use the relative claims experience of the makes and models of automobiles to establish your insurance premium. This means that they will check into the repair costs, the rate of injury, and the likelihood that the particular car may be stolen, to establish their risk and then price it accordingly. The current value of your vehicle is another factor, and insurance companies use a variety of methods to establish the current fair market value of your vehicle.


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PostPosted: Sun Jun 03, 2007 1:09 pm   Post subject: High Auto Rates  

The biggest reason may be your insurance credit score, particularly if you have no at-fault accidents. That would be the biggest reason.

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PostPosted: Fri Jun 08, 2007 7:33 pm   Post subject:   

Each company have their own standards. Here are some factors that would come into play, this list has no particular order and/or ranking.



Drivers Age


Number of Vehicles

Type of Vehicles

Coverage type


Drivers Training




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PostPosted: Sun May 20, 2012 12:41 am   Post subject: PYXSFkwrwGtitYSvn  

No, it does not affect your cdeirt score. When auto insurance companies do a cdeirt check they do it through a third party and so they do not see your personal details. This is all explained on this website. I hope this helps.Good luck!

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