Turn claim history into a surcharge estimate quickly. See premium changes by risk factors. Export results, chart trends, and plan renewals wisely.
| Scenario | Base Premium | Claims (months) | Types | Fault | Amounts | Estimated Surcharge | Estimated New Premium |
|---|---|---|---|---|---|---|---|
| A | $1,200 | 8 | Collision | Yes | $6,500 | ~18% | ~$1,416 |
| B | $950 | 14 | Comprehensive | No | $2,000 | ~6% | ~$1,007 |
| C | $2,400 | 4, 22 | Liability, Property | Yes, Yes | $12,000, $3,500 | ~32% | ~$3,168 |
| D | $1,500 | (none) | — | — | — | ~0% | ~$1,500 |
Each claim contributes a weight based on recency. The weighted claim count, fault share, claim type, and severity drive the core surcharge. Context multipliers adjust the result.
Insurers price risk using expected losses, expenses, and required capital. When a claim happens, the policy’s expected future loss can rise, and the carrier may also anticipate higher claim handling costs. A surcharge at renewal helps align premium with the updated probability and size of loss, while keeping base rates stable for the wider pool. Surcharges typically apply for several renewals, then taper off gradually.
The calculator begins with your current annual premium and then evaluates up to three claims by months since loss, claim type, fault, open status, attorney involvement, and amount. It layers in underwriting context such as territory risk, insurer tier, credit tier, vehicle type, usage, annual miles, payment plan, term length, coverage limits, deductible, and recent insurer changes.
Not every claim matters equally. Recent claims usually influence pricing more than older events, so the model applies an exponential recency weight within the lookback window. Each claim amount produces a bounded severity score so a small glass loss does not behave like a large liability event. Accident forgiveness can remove the most recent weighted claim to simulate common program features.
The output reports an estimated surcharge rate, the surcharge amount in dollars, and the resulting annual premium. An additional range is shown to reflect typical variation across carriers, rating plans, and underwriting judgment. The projection chart assumes no new claims and applies a decay rate each year, illustrating how surcharge impact may fade over time.
Run scenarios by toggling bundling, telematics, garage parking, anti‑theft, and claim‑free indicators. Test how changing deductibles or limits can shift the context multiplier, and compare different claim mixes by editing months and amounts. If you know local patterns, enable overrides to calibrate base‑per‑claim, fault add‑on, recency strength, severity weight, decay, and caps. Export CSV and PDF outputs for renewal meetings and budgeting.
It is a scenario model using common rating patterns. Actual renewal pricing depends on carrier filings, underwriting rules, and your full history. Use it to compare options, not to predict an exact quote.
Use the number of months between the loss date and today. If you only know the year, estimate conservatively. Claims outside the lookback window are ignored by the calculator.
Carriers often evaluate gross loss experience, not just what you paid. The tool uses claim amount to create a severity score. Higher severities increase the modeled surcharge even when deductibles apply.
Each claim is given a recency weight. Recent claims get higher weights and older claims get smaller weights. The sum becomes a fractional claim count that feeds the surcharge calculation.
Discount toggles reduce the surcharge impact by a small percentage in this model. They do not change your base premium in the estimator. Adjust overrides if your market applies discounts differently.
Use overrides when you know typical per-claim loadings, caps, or recency behavior in your region. Keep values reasonable and document assumptions. If unsure, leave overrides off for a neutral estimate.
Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.