The formula for calculating insurance premium is:
Premium = Base premium x Rating factor
So, for this driver:
Premium = $86 x 1.95 = $167.70
Therefore, the correct answer is (a) $167.70.
Determine the annual insurance premium for 50/100 liability insurance
for a driver having a rating factor of 1.95 if the base premium is
$86.
a. $167.70
b. $430
c. $860
d. $195
1 answer
1 answer