• Mark Dunford

How is a Car Insurance Policy rate calculated?

The formula to determine a Car Insurance Policy’s rate is different for every carrier and is not made public. I can tell you that there are many factors that affect each person’s rate. They include the policy holder’s address, age, driving experience, motor vehicle record, types of cars driven, accident and claims history, as well as the actual coverages chosen. These factors, along with any discounts applied are many of the details with use to help us determine rates for a Car Insurance Policy.

Because there are many details to work through when quoting a Car Insurance Policy, it is always best to talk through them with a local agent. I spend time with each of my clients to get to know them first. This helps me recommend coverages that best meets their needs. This can’t be done accurately in fifteen minutes like many of the commercials on TV promise.

It does not pay to get “Cheap Insurance.” A cheap Car Insurance Policy may leave you paying out of pocket when you have a claim. I always work to get my clients the coverages they need, then spend time applying any and all discounts that are available to help offset the costs. Bundling home and auto policies save our clients up to 25% for example. Clients who participate in our Smartride driving discount program also save up to 30% as well.

If you need a local agent to review your policy and properly protect what matters most to you, find us online at dunfordinsurance.com, call us at 540-665-0911, option3, or come see us at 3223 Valley Pike in Winchester Virginia.