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7/7/10 Pace high school

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Q: Kamil has a full comprehensive premium of 67.10 and a 50.00 deductible collision premium of 201.20 what is his annual base premium?
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Colin has a full comprehensive premium of 32.00 and a 50.00 deductible collision premium of 120.40 His rating factor is 1.35 What is his annual premium?


Jacques has a full comprehensive premium of 47.60 and a 50.00 deductible collision premium of 154.00 What is his annual base premium?

$201.60 7/7/10 pace high school

What is the formula for annual premium?

Annual Premium= Annual Base Premium * Driver-Rating Factor To get annual base premium the formula is... Annual base Premium= Liability Premium + Collision Premium + Comprehensive Premium.

How much is it for a 2008 hummer?

I pay the following through Erie Insurance in PA Limited Tort $300,000 property and body Comp $100 deductible Collision $500 deductible 2008 Hummer H3 $662 annual premium 2007 Hummer H3 $593 annual premium I also carry home insurance through ERIE so that might be a discount to consider.

How is a deductible different from a premium?

Both terms relate to insurance, but mean different things. A deductible is the amount of money that the insured has to pay toward a covered occurrence before the insurer's obligation to pay anything is triggered. For example, if an auto policy had a $250 collision deductible, the insured would be responsible for the first $250 in repair costs; the insurer would pay the rest. The theory is the same in the case of health insurance. A premium is the amount of money that the insured pays in return for insurance coverage. In other words, it is the price of the policy. It is generally payable on a monthly, quarterly, semi-annual or annual basis.

When to cancel collision insurance?

Step 1: Determine the current market value of your used vehicle. Online services such as Edmunds, Kelly Blue Book, etc can help you. Step 2 : Determine the annual or bi-annual premium for auto collision and comprehensive insurance from your most current insurance statement. Also find the deductible, which is the amount you will pay when filing a claim. Step 3 : Call your insurance agent and ask them for the replacement value of your used vehicle given the policy current in effect. Step 4 : Consider the likelihood of an accident or vandalism given your driving habits and territory. Step 5 : With all the numbers in front of you, ask yourself if the premium and the risk are worth the potential insurance payout? Case Study (completed in 2008) 1. 2001 Honda Odyessey with 90,000 miles and in need of body work has a market value of between $4000 and $5000. 2. Insurance premium for both collision and comprehensive is $130.00/ six months. Collision deductible is $400. 3. The agent says my car is worth $4000, the lowest blue book value. 4. I commute 3 miles a day, without major traffic in a safe suburban area. 5. The bottom line : I'm paying $103 every six months for the chance to receive $3600 ($4000-$400) if my car was "totalled" in a accident. The payout is roughly 35 times greater than my premium. $103 * 35 = $3605. Conclusion: Keep the insurance until the used car value reaches $3000.

Is a health premium the same as a deductible?

No. When referring to health insurance, the "premium" is the amount you pay to the health insurance company each month to maintain your coverage. The "deductible" is a specific dollar amount you may be required to pay out-of-pocket per year before the health insurance company will begin paying for medical services covered under your policy. The amount you pay toward your monthly premium (or for copayments) does not count toward your annual deductible. Not all health insurance plans have a deductible, and even among plans with deductibles, some services may be covered up-front (preventive care, for example) without being applied toward your deductible.

What is the difference between annual premium and installment premium?

The annual premium is paid once a year and the installment premium is usually paid monthly and usually has additional fees added which costs more than the annual premium.

What best describes gross annual premium?

In fact, gross annual premium includes tax element including service tax charged on premium amount.

In the medical field what do they mean by the payment was applied to the deductible?

Deductible means the amount of Covered Expense you must pay for Covered Services before certain benefits are available to you under this Combined Evidence of Coverage and Disclosure Form. Your annual Deductible is stated in the Part entitled ?MAXIMUM LIFETIME BENEFITS, ANNUAL DEDUCTIBLE, CO PAYMENTS AND ANNUAL OUT-OF-POCKET MAXIMUM.If your deductible has not been paid, the insurance company has the right to withhold the deductible amount first and then pay out the difference.

What is the annual premium if the base premium is 212.15 and the rating factor is 1.65?


What does annual deductible mean for health insurance?

The annual deductible is the aggregate maximum amount that the insurance policy requires the insured(s) to pay over the course of a year in deductibles. Stated otherwise, a deductible will normally be incurred for each physician's visit, medical test, or other procedure. There may come a point however, during the course of the year, when the total of all of those deductibles meet or exceed the annual deductible (specified in the policy). At that point the annual deductible will have been met and until the start of the new policy year, no further individual deductibles will have to be paid.