Auto insurance premium calculation basics - questions

[marindependent]

About the only truly simplistic rating system still used [and I am not an underwriter] that I know of is the California Low Cost Auto Insurance program for "income eligible persons with liability insurance protection". As I recall [ I do not participate in the program now really] it is only liablity protection. I have a three page document that I am willing to share with you if you PM me your email address.

 

[adjusterjack]

Microsoft Word - 2018 ratesheet_CA LowCost.docx (aipso.com)

Apparently any Tom, Jack, or Harry can get the rate sheet. You're right. Truly simplistic. Wouldn't take a computer program to compute those premiums.

 

[marindependent]

Wouldn't take a computer program to compute those premiums.

It did for me... I could not figure it out!

 

[adjusterjack]

It did for me... I could not figure it out!

You're joking. I hope.

 

[SoCal Merc Agent]

What I find so entertaining about the CA low cost AIP...The State of CA says the minimum coverage you must buy is 15/30/5....right? Well, not really...the CALCAIP allows for 10/20/2. So let me get this straight, we'll lower your liability responsibility but your car can still do the same damage regardless of your qualifying factors for the program...WOW!