The part of a property or liability insurance policy that states the name and address of the policyholder, the property insured, its location and description, the policy period, premiums, and supplemental information. Sometimes referred to as the dec page.
The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage.
diminution of value
The idea that a vehicle loses value after it has been damaged in an accident and repaired.
Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their reinsurers.
Money returned to policyholders from an insurance company’s earnings. Considered a partial premium refund rather than a taxable distribution, reflecting the difference between the premium charged and actual losses. Many life insurance policies and some property/casualty policies pay dividends to their owners. Life insurance policies that pay dividends are called participating policies.
The Vehicle Insurance Rating is a 1 - 5 score indicating which vehicle's insurance cost provides the best value.
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Vehicle Insurance Ratings
The Vehicle Insurance Ratings are compiled by our data partner, Vincentric. The ratings are based on the anticipated insurance costs of a vehicle when compared to similarly priced vehicles within the same category (SUVs, crossovers, sedans, etc.). To determine the ratings, Vincentric uses a series of statistical models to determine the insurance cost patterns relative to the cost of the vehicle. A higher Vehicle Insurance Rating value indicates that a vehicle is less expensive to insure that other vehicles in that category. Conversely, a lower rating suggests that the vehicle may cost more to insure.