Media Advisory: I.I.I. Highlights How Auto Insurers Price Their Policies

NEW YORK, Sept. 26, 2016 /PRNewswire-USNewswire/ -- Reporters writing about the criteria employed by U.S. auto insurers when pricing their policies should review a new Infographic developed by the Insurance Information Institute (I.I.I.).

The make/model of the policyholder's vehicle and their driving record, where the vehicle resides and how many miles it is driven, as well as the cost of medical care and litigation in the policyholder's state, are among the factors which impact the cost of an auto insurance policy, according to the I.I.I. Regulators in 47 states also allow auto insurers to use credit-based insurance scores as a rating criterion.

Auto insurers do not use a policyholder's race, religion, or income when determining the price of a policy. 

RELATED LINKS:

I.I.I. Research:

• Facts & Statistics: Auto Insurance
• Issues Update: Credit Scoring and Insurance

Consumer Articles:

• What Determines the Price of My Auto Insurance Policy?
• How Can I Save Money on Auto Insurance?
• (Video) The I's on Insurance: Auto Coverage: You're in the Driver's Seat

The I.I.I. has a full library of educational videos on its You Tube Channel. More information about I.I.I. mobile apps can be found here.

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org

http://www.facebook.com/InsuranceInformationInstitute  
http://twitter.com/iiiorg  
http://www.linkedin.com/company/insurance-information-institute  
http://www.youtube.com/iiivideo  
https://plus.google.com/113369356227754162778

Logo - http://photos.prnewswire.com/prnh/20150428/212128LOGO

SOURCE Insurance Information Institute

Related Links

http://www.iii.org