Jessie is happy with his 7-year old car, but he is thinking of switching auto insurance carriers. His agent said the car was in model class A and that he would be assigned to driver class 3. For comparison with his current policy, he wants a price quote for 50/100/50 liability coverage, $500 deductible collision and $100 deductible comprehensive. Based on the tables in the book, what would be his total premium if he lives in territory 2 and has a rating factor of 1.3?

Question

Quizplus · Accepted Answer

The total premium is calculated by adding the base premiums for liability, collision, and comprehensive coverages, then multiplying by the rating factor. The base premiums are determined by the car's model class, driver class, and territory. After calculating these, the total premium is $397.80.

Jessie Is Happy with His 7-Year Old Car, but He