How are Insurance Premiums Determined?
Insurance is a unique product where the actual cost of the product is known only after the product has been sold. You pay your premium before either
you or your insurance company knows if you will have a loss, or how big the loss might be.
When determining the premium for a trucking company, the insurance company will consider factors which increase or decrease the probability that a loss
will occur, and the potential size of the loss.
The following items are some key factors affecting your chance of having a loss and, therefore, the premium you will pay.
To learn more about how these factors affect your premium, click on any
of the above items for a more detailed description, or try our How Do You Rate game.
|
|
