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For example, if your loss experience has been better than the average business in your classification code, then your policy should have an experience mod below 1.00; your premium will decrease. If your loss experience is worse than the average business, then you will have an experience mod above 1.00; your premiums will increase.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.