What factors are considered when determining insurance premiums?

When determining insurance premiums, Zenith Insurance Company takes into account various factors. These include the individual's driving history, including any previous accidents or traffic violations. The type and value of the insured vehicle are also considered, as well as the geographic location where it will be used. Other factors include the age and gender of the driver, as statistics show that these can affect the likelihood of accidents. Additionally, Zenith Insurance Company considers the individual's credit score, as studies have shown a correlation between creditworthiness and insurance claims. The level of coverage and deductible chosen by the policyholder also impact the premium amount. By evaluating these factors, Zenith Insurance Company strives to provide fair and accurate premiums that reflect the risk profile of each insured individual.