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The promise that something will be paid in case of loss. Used to cover important items and reduce personal risk. This tag covers how to get it, how to keep it, what kind, and why you should have it.

8 votes

Why does third party only car insurance price depend on where you live?

Insurance quotes will depend on two things: What the company thinks the average claim on that policy is likely to be; and What the company thinks the customer is likely to be willing to pay. … While the second will have some bearing here (someone living in Chelsea is likely to have much smaller price elasticity of demand), the fact that insurance is more or less a commodity is likely to downplay …
Andrzej Doyle's user avatar