The rate is the factor, used to determine premium for an insurance policy. The underwriter will examine a particular application, and weigh the risk. If the hazard ratio is low, then a lower rate may be applied. If the hazard ratio is high, then the underwriter may choose to decline or charge a higher premium.

Certain rates are subject to review, before they can be increased. At the present time in Alberta, Auto Insurance Reform has determined the rate to be charged. It is important that you give your agent or broker all the information you can, to present you in the best possible way.

Talk to your agent or broker about what you can do to get yourself a better rate. In personal lines, it is important to declare your past history, even if it was in a different province, territory or country.

For commercial insurance, it could be many factors. Some would include declaring your safety program, or prior experience in the field, that could influence an underwriter's decision. Ask for insurance advice from your adviser. They will help you to get the control you want over your insurance products.