Professional services
Insurance Premium Calculator
A general premium estimate from any exposure base and rate, for comparing quotes.
Result
An estimating tool, not insurance advice and not a quote. Underwriting sets real premiums on claims history, exact operations and contract requirements. What cover you need is a question for a licensed broker. Comparing quotes needs the same exposure base, the same limits and the same deductible, or the cheaper premium is simply buying less cover. Read what is excluded before comparing what is charged.
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About this calculator
How do I compare two quotes properly?
Match the limits, the deductible and the exclusions first, then compare price. A quote that is 20% cheaper with half the limit and a broader exclusion is not cheaper.
What is a schedule modifier?
A credit or debit an underwriter applies for factors not in the base rate: safety programmes, management experience, premises condition. It is negotiable in a way the base rate is not.
The formula
premium = exposure / rate basis x rate, adjusted by the modifier, plus fees, subject to a minimum
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