As part of the review process for some of the insurance companies we write about, a rate test may be performed to give the reader an idea about how the costs for a particular insurance product stacks up against the competition. Below you can view the criteria we use for the different types of quotes we compare.
Auto Insurance Quote Tests
When running tests for car insurance, we attempt to use as much of the same information in every quote as possible. This includes the state, car details, driving record, coverage amount, and information about the people. The specific details used are as follows:
- A married couple who were each licensed at the age of 16.
- Both people are 30 years old.
- They have no kids.
- No accidents or moving violations in the past 5 years.
- Neither have a DUI on their record.
- The couple lives in Southern California.
- They both commute five days a week for 10 miles.
- They both drive an average of 15,000 miles a year.
- The husband drives a 2008 Ford F-150 (base model).
- The wife drives a 2005 Toyota Camry (base model).
- Both vehicles were purchased new.
- Both vehicles are completely paid off.
- Standard restraints and standard anti-theft vehicle options are installed.
- There are no aftermarket items on either vehicle.
Periodically when running a quote, we are unable to match the details exactly as mentioned above because not all insurance companies provide the same options. When that is the case, we attempt to select the options that are closest to the ones outlined here.
Term Life Insurance Quote Tests
Just as we do with car insurance, we use the same standard answers when running a term life insurance quote test. The details are as follows:
- The insured is a 30 year old male.
- He lives in Southern California.
- His health status is “Premier Plus” or the healthiest option available.
- He has never used tobacco products.
- The policy is for a 20 year term.
- The policy amount is $1,000,000.
Quotes are typically run through a third-party broker that ensures the prices are equal to dealing with the company directly. If the exact details are not available as stated above, we attempt to choose the closest options possible.
The rate tests on ExpertInsuranceReviews.com are designed to give a general overview of the pricing and should not be interpreted as absolute. Underwriting guidelines can vary dramatically between insurance companies, cities or states the insured resides in, personal details, and many other factors. These variations can cause fluctuations in policy prices, so anyone interested in a particular company or product should have a personalized quote ran specifically for them.