Insurance Premium Factors

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A number of different factors can both increase or decrease your insurance premiums. Learn about insurance premium factors with help from a longtime insurance professional in this free video clip.

Part of the Video Series: Insurance FAQs
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Video Transcript

Hi this is Tony Chimino. I'm the CEO of Assurance explaining to you today about insurance premium factors. Now, premium factors are factors that will increase or decrease the cost of insurance and these factors are based on a company's claims history. Now most insurance companies will look at the past three to five years of claims history and if they deem that that history is better or worse than average, will give that company either a factor that increases or a factor that decreases their insurance premium. We see this quite prevalently in Worker's Compensation Insurance, and in general liability insurance as well as automobile insurance. This is Tony Chimino, explaining to you a bit about insurance premium factors.


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