Actuarial equity is the calculation of an insurance premium based on crucial factors such as the applicant’s age, gender, health, family history and the type of Kinghorn insurance coverage applied for. This allows insurers to treat applicants fairly according to their estimated insurance risk levels.
In Kinghorn’s automobile insurance, insurers use age as a rating factor in determining individual premiums. Thus, because young people tend to have less favorable driving records as a group, these individuals are required to pay out more in premiums, which normally include the expected value of losses.
If you would like a free, no obligation South Carolina insurance quote, there are many ways to obtain one! Fill out our online quote form, call us, or stop by one of our offices.
Our Bluffton office is located between Bluffton and Hilton Head across from the Moss Creek Center at: 1544 Fording Island Rd, Hilton Head Island, SC 29926, or just click on the map to get directions.
Our Hilton Head office is located in Shelter Cove at: 23-D Shelter Cove Lane, Hilton Head Island, SC 29928, or just click on the map to get directions.