What Does Gross Receipts or Mileage Mean?

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What does Gross Receipts or Mileage mean? Read on to discover the definition & meaning of the term Gross Receipts or Mileage - to help you better understand the language used in insurance policies.

Gross Receipts or Mileage

Gross Receipts or Mileage

A method of rating automobile liability insurance using the exposure base of gross receipts or mileage rather than the number of vehicles. This rating basis may be used for rating taxis, buses, and other public automobiles. It is also sometimes used in composite rating of truckers.

We hope the you have a better understanding of the meaning of Gross Receipts or Mileage.

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