Why and how are policies priced for different drivers?

For various reasons, drivers are categorized by:

1. Sex -- Men have more accidents on the road than women.
2. Age -- Drivers under 25 (and, for some insurers, under 30) are considered at higher risk of having an accident.
3. Marital Status -- Married drivers tend to have fewer accidents than single drivers.
4. Personal Driving Record -- Years of driving experience, accidents, speeding tickets and drunk-driving offenses are all factors in determining how much of a risk you pose as a motorist.
5. How You Use Your Vehicle -- If you commute by car during rush hours, you're at greater risk of having an accident than if you only drive for errands and recreation on the weekends.  Drivers who use their own vehicles for business also are considered to be at a greater risk.
6. Type of Vehicle -- The value, size, weight, age of your vehicle--even the cost of replacement parts--are essential to determining the price of your insurance.  Larger, heavier vehicles are considered at lower risk than smaller, lighter ones.  Plus, more expensive cars are costlier to have repaired than economy models.
   

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   Association of Wyoming Insurance Agents
   		P.O. Box 799 Sundance, WY 82729-0799 Voice: (307) 283-2052 Fax (775) 796-3122 Email: awia@vcn.com