Rate Making for Automobile Physical Damage Insurance

doi:10.2307/251371

Paper

Rate Making for Automobile Physical Damage Insurance

Published Jun 1, 1964 · Robert M. Crowe

Journal of Risk and Insurance

Q1 SJR score

1

Citations

0

Influential Citations

Full textSemantic Scholar

Abstract

Automobile physical damage insurance is that broad type of automobile insurance which reimburses the insured in the event of loss of or damage to his own automobile arising out of a covered peril. Several different types of coverages are available within this line, the two most important of which are comprehensive insurance and collision insurance. The former is an "all risk" property damage coverage subject to some exclusions, one of which is the collision peril. The latter covers damage arising out of collision with another object or upset of the automobile. Other types of auto physical damage insurance are: (1) fire, lightning, and transportation; (2) theft; (3) combined additional coverage, which includes windstorm, earthquake, explosion, vandalism, and other specified perils; (4) towing and labor coverage.

Study Snapshot

Rate making for automobile physical damage insurance involves evaluating the risk of loss or damage to the insured vehicle, considering various coverage types, and determining the appropriate premium for each type of coverage.

PopulationOlder adults (50-71 years)

Sample size24

MethodsObservational

OutcomesBody Mass Index projections

ResultsSocial networks mitigate obesity in older groups.

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Paper

Rate Making for Automobile Physical Damage Insurance

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References

Citations

Risk management opportunities in auto insurance: A focus on the value of vehicles

Auto insurance companies must adapt to more flexible price-to-value methods to better manage risk and adapt to the changing value of vehicles, rather than raising rates universally.