NEW YORK, Sept. 26, 2016 /PRNewswire-USNewswire/ -- 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. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org
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SOURCE Insurance Information Institute