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21 Cards in this Set
- Front
- Back
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Dwelling A Limits
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An increase to Coverage A is often the cause of rate increases to homeowner’s policies.
ARS Screens/Fields to check • Coverage Summary- Coverage A • Coverages/Prem- Construction Price Index • Multi-purpose- ITV inspection |
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Driver Discounts
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Common Driver Discounts
• Good Student • Defensive Driver • Driver Improvement Check: • Current State Reference • ARS- Driver |
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Territory
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Territories are geographic rating areas. When MetLife files rate revisions, it can affect different territories in the state differently.
ARS Screens/Fields to check: Home- Coverage Summary Auto- Coverages/Prem |
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Protection Class
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Protection Class indicates the level of protection available to the home from the local fire department. A lower protection class indicates better fire protection. A higher protection class indicates less protection.
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Home Discounts
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Common Home Discounts:
• Deadbolt locks • Fire Extinguisher • Smoke Detectors • Central Fire and Burglar alarms • Sprinkler Systems (Internal) |
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Construction Price Index
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A Construction Price Index measures the change in the level of construction prices.
• It is state specific • MetLife uses this to calculate inflation protection increases to Coverage A |
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Replacement Cost Method
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Replacement Cost Method- Indicates which replacement cost method was used to calculate the Coverage A amount. TCE is the only current method in use. Older policies may show a different method.
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PFM
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PFM is an internal measurement criteria based on credit characteristics. It’s impact on rates in Auto and Home policies is typically based on affecting the customer’s tier.
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Tier
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Tier is a rating factor based on many customer characteristics. Tiers can change based on many factors.
• See Tiering Info screen in ARS |
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Multi Purpose Screen
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The Multi Purpose screen shows if we have requested an ITV (Insurance To Value) appraisal of the insured home.
• Could cause increase in Coverage A • See Multi-Purpose Screen in ARS |
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Vehicle Territory
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Vehicle Territory- The rating territory based on the insured address. If a vehicle territory changes, it is because the insured moved, or new territories were assigned in a state.
ARS screens to check: • Coverages/Prem • Current State Reference |
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Symbol
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A rating factor applied to collision and comprehensive that is based on the cost to repair or replace an automobile.
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Incidents
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Incidents are accidents or moving violations that may or may not affect the policy rates.
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Auto Policy Discounts
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Common Auto policy discounts:
• MetRewards • Payroll or ExpressIt Discount ARS screens to check: • Disc/Surcharge |
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MetRewards
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MetRewards is a discount program to reward safe driving and loss-free customers. It is often removed due to a loss or accident.
Check: • Current State Reference • ARS- General |
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Auto/Life Discount
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Auto/Life discount is a discount for having multiple policies with MetLife. See state specifics for guidelines.
ARS screens to check: • General |
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Vehicle Discounts
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Vehicle Discounts:
• Anti-theft device • Passive Restraints • Anti-lock brakes • Vehicle Protective Enclosure (garage) |
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VRG
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VRG is a rating factor for vehicles that is applied to Liability. It is based on loss characteristics for a particular make, model and body style.
Example: Ford, Mustang, Convertible |
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Policy Rate Set
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Policy Rate Set- Every time MetLife revises rates in a state, we assign a new rate set. If this number changes on a renewal, MetLife has filed a statewide rate revision.
Check: • Current State Reference • ARS- Coverages/Prem |
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Common Rate Increase Reasons- Auto
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Policy Changes- Check Coverage Summary
Rate Revisions- Check Coverages/Prem- Rate Set Surcharges- Check Notes- Check Claims and Violations |
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Common Rate Increase Reasons- Home
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Increase Coverage A- Check Construction Price index
Rate Revisions- Check Knowledge Change Protection Class- Check Protection Class |
