Personal Auto Insurance: How Premiums Are Determined

Overview

Why do two people with the same car and coverage pay different premiums? This course unpacks the mystery behind personal auto insurance pricing. Designed for learners who want to understand personal auto rates, this course explores the principles behind rating systems, the most common pricing factors for individuals and families, and the rationale insurers use to assess risk.

You'll walk away with a clearer understanding of how insurers think, why premiums vary, and what factors you can (and can't) control. Whether you're new to insurance or brushing up your knowledge, this course will help you speak the language of rating with confidence.

Find this course for your license

License or Certification

Regulator

Learning Objectives

Identify reasons for the use of class rating in pricing personal auto insurance
Recognize factors affecting the type and number of rating classifications an insurer might use
Identify rating factors commonly used in rating personal auto insurance and recognize the rationale behind each factor
Recognize the innovative rating approaches emerging from the introduction of usage-based insurance and telematics

Designed For:

Property and casualty insurance professionals in all stages of their career

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Course Information

Adding additional credit may change exam requirements.

At WebCE, we are passionate about delivering exceptional professional development solutions. With world-class customer support and education to serve multiple professions, we're here to help professionals reach their career goals.