RULE 40.2 - CALCULATION OF PREMIUM EXAMPLES
1) Example 1 - Premier Plus - Replacement Cost $96,000
|
Calculated
Base Premium
|
Total
Base Premium Rounded |
||
| Premier Plus Base Premium |
$280.00
|
$280.00
|
|
| Auto/Home Discount ($280 x .925) |
259.00
|
259.00
|
|
| Townhouse Factor ($259 x 1.00) |
259.00
|
259.00
|
|
| Replacement Cost/Contents | |||
| (Included in premium for Premier Plus) |
259.00
|
259.00
|
|
| Protective Device Discount | |||
| (Fire Alarm Reporting to Central | |||
| Station - $259 X .85) |
220.15
|
220.00
|
|
| $500 Deductible ($220 x .83) |
182.60
|
183.00
|
|
| New Home Credit for 3 year old home | |||
| ($183 x .88) |
161.04
|
161.00
|
|
| Charge for Jewelry Increase to $5,000 | |||
| ($11 x 4 = $44 + $161) |
205.00
|
205.00
|
|
2) Example 2 - Premier with Special Loss Settlement - Replacement Cost $100,000 - Desired Coverage A $60,000
|
Calculated
Base Premium
|
Total
Base Premium Rounded |
||
| Special Loss Settlement Calculations: | |||
| Desired Coverage A x Modifier | |||
| ($60,000 x 1.33 = $ 79,800 = $80,000) | |||
| Premier Base Premium ($80,000) |
$280.00
|
$280.00
|
|
| Base Premium Multiplier for 60% x | |||
| Base Premium (.97 X $200) |
194.00
|
194.00
|
|
| Auto/Home Discount ($194 x .925) |
179.45
|
179.00
|
|
| Townhouse Factor ($179 x 1.00) |
179.00
|
179.00
|
|
| Replacement Cost/Contents ($179 x 1.13) |
202.27
|
202.00
|
|
| Protective Device Discount | |||
| (Deadbolt, Smoke Detector and | |||
| Burglar Local Alarm $202 x .92) |
185.84
|
186.00
|
|
