Cover Whale uses a dynamic rating approach that aims to accurately price drivers based on their individual risk profiles. Instead of a one-size-fits-all method, our ratings consider various factors, such as years of experience, age, and motor vehicle records.
There could be a charge for adding and removing drivers depending on various driver variables. Cover Whale also averages the driver factors together, which can result in large swings in premiums if the drivers being added or removed have significantly different risk profiles than those on the policy.
This dynamic pricing model allows us to accurately price the driver and risk at hand. Our approach considers the overall quality of the drivers associated with the risk, not just one driver.