0
Should your car insurance premium lower when you take a person off of the coverage?
Wiki User
∙ 7y ago
Sometimes yes and sometimes no. It just depends on your rates and level of discounts. Sometimes we add drivers that create no additional premium. If we take that driver off, then again there is no change in premium.
Wiki User
∙ 7y ago
Wiki User
∙ 8y agoSometimes yes and sometimes no. It depends on what your rate was for the second driver and what your discounts might have been for multiple drivers or multiple vehicles.
Often the multi-car discount is more than the cost of the second driver. In such a case the discount lost was greater than the amount charged for the additional driver resulting in a net increase after removal of that driver.
Add your answer:
Earn +20 pts
What is uninsured vehicle coverage?
Uninsured motorist coverage provides insurance coverage when you are hit by a person who has no insurance coverage. You uninsured motorist coverage will take the place of the insurance that the other person did not have and will cover your damages just like theirs should have if they had it. The only difference is that you will have a small deductible for property damage coverage.
What is the capacity of the person in an insurance company that calculates premiums?
An actuary is a highly skilled mathematician. He/she is employed by insurance companies to calculate insurance rates. Rates are the cost of insurance per $1000 of coverage. Premiums derive from rates such that multiplying the rate times the amount of insurance (in thousands of dollars) results in the premium.An actuary calculates insurance rates. A rate is the cost per $1000 of coverage. Therefore, the premium is calculated by multiplying the amount of coverage times the rate. Accordingly, indirectly, an actuary calculates the premium.
What is the title of a person in an insurance company who calculates the premium?
An Actuary is the person in an insurance company who calculates the premium
Whose medical insurance covers your child if both parents are insured?
In order for your child to have insurance coverage, your child would need to be listed as a covered person on the policy, and a premium would need to have been collected for the child. Even if both parents are insured, if your child isn't on the policy and has not been considered as a portion of the premium, then there is no coverage.
Definition of health insurance premium?
Health insurance premium is the amount charged by the health insurance service provider against coverage of insured person's illness/disease as inscribed in the policy prospectus. The health insurance coverage is for a period of l2 months and is renewable every year. When the insured person intends to cover spouse,dependent children, parents, some insurance cos provide family discount. After deduction of family discount amount, service tax as applicable is added to the premium amount. However, family floater policies do not offer any family discount. In group health insurance policy,premium is paid for the total group of people and generally at reduced rate of premium,since insurance cos. offer attractive discount to them. The premium amount varies under which age group the proposer falls and the quantum of sum insured to be chosen by him.
What are life insurance premiums?
A life insurance premium is the amount of money that is paid, on a periodic basis, to an insurance compasny in return for insurance coverage on a person's life. Provided that premiums are paid as and when due, the insurer is obligated to pay to the beneficiary(ies) the face amount of the policy. The amount of premium payable is determined primarily by the amount of life insurance purchased and the risk factors (age, medical history, etc) of the person to be insured under the policy.
What are insurance premiums?
A life insurance premium is the amount of money that is paid, on a periodic basis, to an insurance compasny in return for insurance coverage on a person's life. Provided that premiums are paid as and when due, the insurer is obligated to pay to the beneficiary(ies) the face amount of the policy. The amount of premium payable is determined primarily by the amount of life insurance purchased and the risk factors (age, medical history, etc) of the person to be insured under the policy.
If you have a licence but do not drive can your insurance company make you pay in Pennsylvania?
If you are a listed driver on an insurance policy then your characteristics will be considered in the rating of the insurance policy. Under some circumstances a listed driver will have very little if any impact on the premium. In other cases a listed driver will impact the premium significantly. Many insurance companies require that all licensed drivers in a household be listed and proper premiums be paid or excluded, in writing, from coverage. If you decide to exclude a licensed operator then there would be no coverage for that person on the insurance policy. I personally know of a situation in which an excluded person was allowed to drive the car to church on Sunday. There was an accident and all coverage was denied by the insurance company.
Your truck was totaled and the person that hit you does not have enough insurance what should you do?
Sue him.A bit more:If the person who hit you doesn't have enough insurance to cover the damages to your vehicle, then your insurance should cover the balance of the costs if you have full coverage and not just liability insurance.
What does burial insurance do for me?
Finance Maine Burial Insurance can be a straightforward and safe process of paying for an individual's service before it's necessary. Typically, Maine insurance policies provide coverage between $5,000 and $50,000. There are no normal plans when it comes to this insurance and it normally is determined by the person's need for benefits, such as the level of coverage, the premium amount, age and current health status.
What type of insurance coverage will pay for the loss of a person's sight?
It is important to have different types of insurance during a life time. A persons health insurance coverage will pay for the loss of the person's sight.
If you and your spouse are legally separated is the wife still covered under the health insurance until which time they are divorced?
As long as the premium is being paid on any person listed on a policy, that person is still covered. If one of the persons listed on the policy moves out of the "coverage area" (like out of the state) of the policy, it is possible that person could be excluded from coverage. Check with the insurance company for the details.
