To add to the ever-growing pile of insurance questions... We all know insurers consider things such as driving records (claims, accidents, tickets, etc...), age, characteristics of the area in which the car is parked/garaged, type of car, credit history (I BELIEVE I have named all of the most salient measures). However, other information is also collected such as your education, income level and occupation. Seems to be quite a lot of excess data for an auto insurance company. So, are any of these ever used in determining the cost
Different companies consider different factors and give them different weights in calculating premium. Credit record matters to many companies. Usually they are only interested in your occupation if it might affect your risk (someone who delivers newspapers has a different risk than a real estate agent, who has a different risk than a regular commuter, etc.) I've never heard education or income being considered, but anything's possible.
Different companies consider different factors and give them different weights in calculating premium. Credit record matters to many companies. Usually they are only interested in your occupation if it might affect your risk (someone who delivers newspapers has a different risk than a real estate agent, who has a different risk than a regular commuter, etc.) I've never heard education or income being considered, but anything's possible.
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Every carrier consider different factors when calculating the policy price. I don't think that information about education/occupation/income ever matters in determining the price as these data is collected only for the record purpose. Some may do consider the credit record and some don't so it totally depends on the carrier to carrier.
company insurance
Every carrier consider different factors when calculating the policy price. I don't think that information about education/occupation/income ever matters in determining the price as these data is collected only for the record purpose. Some may do consider the credit record and some don't so it totally depends on the carrier to carrier.
company insurance
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