How do insurance companies calculate their prices?

obi_waynne

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How insurance calculate risk. "Insuring you get the best deal" How do insurance companies work out their premiums and why do the results vary so much? Firstly looking at the history of insurance we see that groups of ship owners got together. The problem they faced was bankruptcy if their cargo was lost or their […]

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HDi fun

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I'd like to know how they calculate their payout for cars that are considered to be uneconomic to repair. The insurance underwriters and loss adjusters are brain dead in my opinion.

It's the financial services industry taking advantage of their secure position. Bank bail outs et al.
 

obi_waynne

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If you know how to negotiate and ask for a cash in Lieu of repairs offer you can usually do OK even on a repairable claim.

Loss adjusters work for the insurers not the customer, argue your case well and you'll get a higher payout.
 

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