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Joseph M. Ghabour & Associates LLC

What determines the cost of insurance?

The cost of insurance is determined using an equation, which is the “base rate” multiplied by your “rating factor”. Your rating factor is your likelihood of getting into an accident based on your age, gender, marital status, driving record, area of residence, how much you drive, and the type of car that your drive. Insurance companies use statistical analysis to determine how all these factors figure into your likelihood of getting into an accident.

Joseph M. Ghabour
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Auto, Bus, Pedestrian, Motorcycle accident, medical malpractice and worker's compensation attorney.

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