How Insurers Calculate Your Home Insurance Premium
Insurance involves the pooling of funds from many customers to pay for the losses that some customers may incur. The premium that is determined is based on the likelihood of how frequently events may happen. So how is home insurance determined? It's complicated. For insurance companies, there's a fine line between pricing competitively and losing money. Price too high, and they lose their customers to the competition. Price too low, and unexpected losses may leave them unable