How are insurance rates determined?

The Missouri Department of Insurance, Financial Institutions & Professional Registration does not set insurance rates. An insurance company's rates are based upon the claims they pay, operating expenses and profit. The rates you pay as an individual driver/owner are usually based on:

Insurance companies and insurance rating organizations establish rating territories generally based upon claims experience. Check with your agent or broker if you have any questions about your rating territory.

Who is covered under an auto insurance policy?
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