Indeed, individuals often wonder how insurance companies determine auto insurance rates¡ªwhy in fact the Ford F-Series Pickup is so much more to insure than, let¡¯s say, the GMC Sierra Pickup. In short, insurers determine auto rates based on a 45 year-old single male with no driving violations or convictions, who drives to work less than 3 miles one way. We used liability limits of $100,000 per person, $300,000 per accident, and $50,000 property damage. Comprehensive and collision premiums were determined using a $250 deductible. The vehicles were selected from information provided by the automotive industry as reported by Reuters News Service. Using insurance rates provided by Esurance.com, premiums were determined using a $250 deductible. Obviously, you can expect to pay more for insurance in some localities than in others. Imagine a Hummer involved in an accident with a Honda.
