Math, asked by anupamasingh2828, 2 months ago

Fill in the blanks
What is the formula of premium-------
a) Premium = Number of Units Covered(Insured Value) / Rate
b)Premium = Number of Units Covered(Insured Value) × Rate
c)Premium = Number of Units Covered(Insured Value) +Rate
d)None of these above​

Answers

Answered by nidhipsamlot
0

Answer:

The premium for OD cover is calculated as a percentage of IDV as decided by the Indian Motor Tariff. Thus, formula to calculate OD premium amount is: Own Damage premium = IDV X [Premium Rate (decided by insurer)] + [Add-Ons (eg.

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