When it comes time to purchase an auto insurance policy, not only do you want to choose the most reliable company out there that is known for providing exceptional customer service, but also those that are known for paying out for claims rather than denying them. In addition, choosing a policy that is more suitable for your wallet can help as some are quite expensive. But what exactly do these auto insurance companies use to determine how much a policy will cost along with all the coverage you require?
The Wyoming insurance claim denial lawyers at USAttorneys.com want you to be aware of what it is that is used to determine the cost of your auto insurance so you are better prepared when it comes time to renew or purchase all new coverage. Here is something to consider: If you were to ask your friends and family what it is they pay for their premium each month, chances are each is going to say a different amount as each policy is unique and based on several different factors. But how are these numbers determined? Denied insurance claim attorneys explain below:
According to Esurance, a policy premium is determined based on:
- Your Driving Record: The more accidents and/or moving violations you have on record; the higher chance you may encounter a costlier premium. Insurance companies fear there is an increased chance you will become involved in another accident.
- Age and Gender: Did you know that males are more likely to become involved in a crash than females? Esurance notes that both age and gender play a role in deciding how much that premium of yours is going to amount to. Generally, â€œthe more experience you have behind the wheel, the less likely you are to cause an accident.â€
- Location: While you may be unaware, there are some states across the U.S. that offer premiums at nearly half the rate compared to someone living in a busy, congested city. The reason behind this is that some accidents merely occur and are out of your control. For instance, if you reside in a state that has an increased number of traffic and high crime rates, you are more than likely going to be faced with a higher premium quote.
- The Make and Model of Your Vehicle: If you are leasing a car, or have purchased a newer model that scored low when engaged in a crash safety test, your policy may be more expensive.
All these factors do come into play when purchasing an auto insurance policy. Now, in terms of a reliable insurer, if you have recently experienced having a claim denied that you believe you were entitled coverage for, it is important you review your policy and its entirety.
Should you continue to struggle with your auto insurance carrier, you may then want to seek legal advice from a trustworthy insurance claim dispute lawyer in Wyoming who can further investigate whether or not the company is acting out of bath faith.