Auto Insurance Vehicle Ratings
An auto insurance vehicle rating is done by the ISO or Insurance Services Office, and the information that this department provides is not available for public use; it is only to be used to calculate policy premiums. The public can get this information by asking their agent what number their car is. Usually, an agent will be able to look up the make and model of the car in the annual publication provided by the ISO that contains over 279 auto insurance vehicle ratings for cars and trucks. This manual is distributed to agencies across the nation and referred to quite frequently when creating premiums. The ISO system is calculated by giving each individual car a number between 3 and 27. The higher the number, the higher the premiums. The lower the number, the lower the premiums. These auto insurance vehicle ratings are only used for the purpose of calculating a premium on collision and comprehensive coverage.
Car loss history, the amount a car costs to replace or repair, and how often it is stolen are the main factors in determining the rating. The score is updated annually, so new scores may be delivered on the same automobile. It is important to have the policy re-evaluated yearly for updates on the vehicle's loss history. This kind of updating can lower the auto insurance vehicle ratings number and therefore lower the cost of the premium. Drivers interested in liability insurance only, need not concern themselves with the auto insurance vehicle rating systems unless they plan on adding collision and comprehensive coverage in the future. Liability coverage only concerns itself with the amount of coverage desired and the motorist's credit and driving history.
Collision and comprehensive coverage make up 56 percent of any policy premium. The auto insurance vehicle ratings system determines most of that cost. Motorists interested in obtaining an car with lower number should contact their insurance agent and request a list for the lowest premium car makes and models. Some agents will happily oblige, while others will refuse. It is not against the law for the public to know what their auto insurance vehicle rating is, it is just not readily available or distributed for all to see. First Corinthians 4:2 tells us, "It is required that in stewards, that a man be found faithful." Part of the faithfulness is getting a best deal in the policies that we purchase.