We calculate premiums individually for each policy we see.  Price is based on a number of factors that we associate with risk, and therefore the likelihood of the occurrence  of an accident leading to a claim, and also the likely size of the claim.  For instance, typically younger drivers have car accidents more frequently, and therefore the age of the driver is one factor that determines the policy price for an auto insurance policy.  Other factors include driving experience, gender, previous driving history, car make and model.

For home insurance, the key factors are the type of construction (especially wall and roof types), as well as geographic location of the property.  About 75% of the cost of a home insurance policy in the Caribbean is attributable to the risk of a hurricane or other catastrophic event.  Our customers have the option to exclude this Catastrophe cover and reduce the policy premium.  Bear in mind that many banks will require you to take out a policy that includes catastrophe cover if you have a mortgage against the property you are insuring.