RULE 40.2 - CALCULATION OF PREMIUM EXAMPLES
1) Example 1 - Premier Plus - Replacement Cost $96,000
| Calculated |
Total | ||
| Base |
Base Premium | ||
| 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 | |
| $250 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 |
Total | ||
| Base |
Base Premium | ||
| 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) | $200.00 |
$200.00 | |
| 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 | |
