How To Count Insurance Policy Rates

fiona November 1, 2018 No Comments

The insurance policy is a standard contract among the policy holder and the policy provider company, who determines the claims which the insurer is legally required to pay. In exchange for an initial payment, generally known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. For easy understanding between Insurance Policy rate and premium Rate x Exposure Units = Premium Insurance rate is the cost of insurance per disclosure to cover claims payments, costs, and commissions and provide for a sensible profit. Replacing a car can depend on a variety of factors, for example when you bought, km of running, manufacturing year, type of car, any modification or repairing has been done or not. PREMIUM is that you pay as a result of the rate multiplied by the number of exposure units you insure. It is that amount which you pay […]

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