MEDIA ADVISORY: I.I.I. Highlights How Auto Insurers Price Their Policies

Releases New Infographic on Factors Insurers Consider When Assessing Policyholders

FOR IMMEDIATE RELEASE

New York Press Office: (212) 346-5500; media@iii.org
Hispanic Press Office: (954) 684-4410; elianneg@iii.org

 

 

NEW YORK, September 26, 2016 — Reporters writing about the criteria employed by U.S. auto insurers when pricing their policies should review a new Infographic developed by the Insurance Information Institute (I.I.I.).

 

The make/model of the policyholder’s vehicle and their driving record, where the vehicle resides and how many miles it is driven, as well as the cost of medical care and litigation in the policyholder’s state, are among the factors which impact the cost of an auto insurance policy, according to the I.I.I.  Regulators in 47 states also allow auto insurers to use credit-based insurance scores as a rating criterion.

 

Auto insurers do not use a policyholder’s race, religion, or income when determining the price of a policy. 

 

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The I.I.I. has a full library of educational videos on its You Tube Channel. More information about I.I.I. mobile apps can be found here.

 

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

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