Frequently Asked Questions about Insurance Rates

Find the answers to the most commonly asked questions about insurance rates and policies here. We'll explain how to interpret insurance quotes and discuss the types of policies our insurers offer.

What do insurance rates mean?

Insurance rates are also called insurance premiums, which are annual representations of the cost of an insurance policy. For example, if you were quoted an insurance rate of $800 for a homeowners policy, you would pay $800 once per year to keep your policy in force. Although these rates are quoted on an annual basis, some insurers allow policyholders to pay premiums on a semi-annual or monthly basis as well.

What kinds of insurance policies can I get quotes on?

You can get rates on insurance policies of all kinds. We can provide free quotes on home, car, health, life, and renters insurance. We work with most of the major insurers in the country, so you will have a large selection of policies from which to choose.

How do I receive my free insurance quotes?

On our home page, you will find a sign-up form to receive free quotes on insurance rates. Completing the form will qualify you to receive up to five free quotes on the insurance policy of your choice. We'll show you the rates side by side to make comparing prices and coverages easier. If you find a policy that works for you, you can apply for it with the insurer that offers it. If not, you can always save the quotes and return to our site at any time.

What is an insurance deductible?

The deductibles you select will directly influence your insurance rates. A deductible is the portion of the loss that the policyholder must pay out of pocket. Common deductibles are $0, $100, $500, and $1,000. The lower your deductible is, the higher your insurance premiums will be. With health insurance, your deductible (if you have one) must be met before your benefits will kick in. For instance, if your health insurance policy has a $1500 deductible, your insurer will not pay for any medical expenses until you've surpassed this amount.

How do insurers determine premiums?

Fundamentally, insurance rates are based on risk. Insurers determine risk based on the statistical likelihood that you will file a claim. For example, with car insurance, young, male drivers tend to file the most claims, so they will pay the highest premiums. Insurance companies compile statistical data to set their rates appropriately. Every insurer calculates risk in a different way, which is why premiums vary from company to company.