Question

What is my risk assessment?

If you're an elderly driver, your insurance rate may be higher. If you're an elderly driver, your insurance rate may be higher. The insurance rate you're offered is based on several factors that comprise how much of a "risk" you pose to the company -- that is, how likely it is that you'll be making a claim. The more of a risk you pose, the higher your rate will be. Companies use data such as your age, sex, driving record, criminal record, credit rating (Links to an external site.)Links to an external site. and where you live to determine your risk. Are you elderly or a teen (groups known for having a lot of fender benders)? You'll pay more. Gotten a lot of speeding tickets? Ditto. Live in the middle of a high-crime district, where car thefts, in particular, are rampant? Out of luck again. Shop around to see which insurance company offers you the most favorable rate.

1. What do you think your risk is?

2. How can you improve it?

3. General thoughts on the need for liability insurance (minimum)?

Answer 1

1) My risk is entirely dependednt on the profession and lifestyle I lead. The more riskier my life, the more insurance risk and premium to be paid.

2) We can imporve it by getting less involved in matters which would risk our insurance.

3) It is very much required in today's age of unsurity.