What is driving the difference in costs

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Reference no: EM132190692

In an auto insurance, if you switch your deductible on collision from $500 to $1000, your premium will be $10~$20 lower. Is this change in premiums reasonable given a reasonable underlying probability of loss? (The average loading on an auto insurance policy is roughly 30%. The average frequency of loss for a 22 year old male (female) driver in Ontario is 5.2% (4.9%).) If the change is not reasonable, what is driving the difference in costs?

Reference no: EM132190692

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