what does a low rating mean?
July 16, 2010 - 10:04 pm
or a high one? for an auto insurance company,
if small cars have higher ratings compared to larger cars,
what does that mean for the insurance company??
it generally means risk factor.
low is "good", high is "bad"
a vehicles rating takes into consideration a number of factors including: age and size – which are worked in with availabilty of parts/cost of parts, desirablity to thieves, how likely it is to get in a collision and the average cost of each collision.
for example Honda Civics are one of the most popular cars stolen in NA so it would be rated higher than say a Ford Taurus.
however if you are talking your own personal insurance rating – high is good, low is bad
July 17th, 2010 at 3:52 am
it generally means risk factor.
low is "good", high is "bad"
a vehicles rating takes into consideration a number of factors including: age and size – which are worked in with availabilty of parts/cost of parts, desirablity to thieves, how likely it is to get in a collision and the average cost of each collision.
for example Honda Civics are one of the most popular cars stolen in NA so it would be rated higher than say a Ford Taurus.
however if you are talking your own personal insurance rating – high is good, low is bad
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