What would you like to do?
How is short rate calculated in insurance?
Short rates represent a penalty for terminating a policy at other than the company's request. For example if the company were to cancel a policy at its request the prorate refund would be .507 of the annual premium at day 180 (1/2 year) The short rate refund on the same premium would be .400 at day 180. As you can see it is about 10% penalty. Example: on a $1000 premium you would get $507 back prorate but only $400 back on short rate. Hope that helps.
2 people found this useful
Was this answer useful?
Thanks for the feedback!
What is a person trained in mathematics who calculates risk based on loss percentages and determines insurance rates and premiums?
A short term insurance benefits people who are between jobs, waiting for employer benefits, temporary or seasonal employees or a non-U.S. citizen temporarily living in the U.S….
You can not get disability insurance after you are hurt and expect it to cover your lost income from your existing injury. You may be able to get a policy to cover future ac…cidents and illnesses. You will need to qualify medically. Every insurer has different underwriting guidelines, so speak to several different companies. The type of injury you suffered, the length of time since your injury, and your degree of recovery will all factor in to your ability to qualify for coverage.
Owner's Title Policy is good for as long as you own the property. Lender Title Policy is good for the life of the loan. Construction Title Policy is good durin…g the construction period of the property through completion and typically only issued to the Builder during construction time. Therefore, if you bought a property, held it for 30 days and sold it, the Owner's Policy would insure you during that period and if there was a loan, the Loan Policy would insure the lender during that period. Since the life of the policy is good until the property is re-conveyed (new deed) or refinanced (new lender), YOU determine the length of term when changing one of the 2 conditions. If you are asking is there a discounted rate on title for holding a property for a short amount of time or flipping the property? The answer is "possibly". If the Seller has an Owner's Policy issued within the last 10 years from time of new sale, most states offer a re-issue rate vs basic rate ONLY if that Owner's Policy is provided to the title agency at the time the new title insurance is requested. NOTE: The reissue rate is availabe regardless of how long you keep the property, long or short term, as long as the prior Owner Policy is provided.
Dit is versekering wat uitgeneem word op risiko of skade wat gely kan word. Die versekerde persoon moet 'n verskerbare belang he in die eiendom wat hy versker. Dit verleen aan… die versekerde die gemoedsrus om met sy daaglikse werk aan te gaan. Short Term Health Insurance aka Short Term Medical Insurance is designed to provide coverage for healthcare costs for short periods (usually less than a year). These plans are very affordable and ideal for those who are un-employed, in-between jobs, fresh graduates and temporary workers. Plan Benefits include: In-patient & out-patient expenses due to sickness or injuries Prescription Drugs (some plans cover only in-patient drugs) Ambulance Costs X-Rays & Diagnostics Coverage can vary by state. Interestingly, in some states Short Term Health Insurance is not available. You can review a good sampling of plans at http://www.nriol.net/short-term-health-insurance/
Frequency = the number of claims/the number of exposures Exposures will change based on the line of business. Automobile exposures may be the number of vehicles insured. Worke…rs Compensation may be the number of hours worked, or the payroll of the employees.
annual base prenium mulply by the rating factor
Calculating Title Insurance The fees for title insurance are specific to the area where the property is located. Some states have regulated fees, other states do n…ot. Therefore, you need to contact your local title agency. If you are in a non-regulated state, the rate charged is a "market rate" meaning that most of the agencies are competitive in their rates, but can modify the rate for each transaction. So each transaction could be different as to what rate is charged. In regulated states, the fees are filed by the Title Underwriting Companies and then monitored by the State. The fees cannot vary and discounting/overcharging is illegal. As far as the actual MATH - most rates are based on a per $1000 rate. So, a per $1000 rate of $3.50 on a $200,000.00 purchase would be calcuated like this: (rate) x 200 = $700 premium Add to the PREMIUM, search charges, endorsements required by the lender, recording fees, etc = final Title Invoice Most agents will happily give you a quote for your specific transaction if you simply contact them. Here is more from WikiAnswers contributors: * I'm a mortgage broker and the closing agents I use charge $2.50 per thousand financed for a refinance and $3.50 per thousand financed for a purchase.
The amount of premium that you will be paying depends on various factors, including the Loan to Value ratio, the type of mortgage (fixed rate, arm, stated income, etc) and you…r credit profile. Once all those variables are known the rate (or MI Factor) can be determined. This rate is multiplied times the loan amount to determine the annual insurance premium, then divided by 12 to be paid in increments with each mortgage payment. As an example, let us work with a loan amount of $300,000 and a PMI rate of .5%. In this case, the monthly PMI payment would be $125.( $300,000 x .5% = $1,500.00 yearly/ 12 months = $125) This amount is added to your monthly mortgage payment. The amount can be higher or lower than this example, depending on the factors stated above.
The car insurance company looks at all your background history as a driver they mostly look at what kind of car you have; where do you drive; how much do you drive; age; sex; …martial status; and your credit history and then they calculate it depending on your answers.
Short Term Disability Insurance replaces a portion of your income should you become sick or injured and unable to work.
A short circuit = 0 ohm, from this one can use ohms law to calculate the current, that is E/R voltage divided by resistance as in this instance your resistance is zero a…nd you can't divide by zero so your current will be infinit. In other words if your power supply is large enough to supply 200 amp, your current on a short circuit will be 200 amp.
Insurance value x Exchange Rate(USD)xexcess value(0.7/1000)+sales tax(10.3%)=Premium
There are many reliable home insurance calculators on many different websites. I would try H and R block's calculator. I trust them and they are very very reliable.
Auto insurance is calculated in a number of different ways in the state of California. While some rating factors are obvious, others are not. The first thing considered is you…r vehicle's rating and symbol. Most drivers think just because they have an older car their premiums will be lower. This is not always true, because some older vehicles have higher symbols. A symbol is determined by how often vehicles are in accidents, how much damage they cause, and how much they cost to repair. If an older vehicle is known to cause a lot of damage it will have a high rating. The drivers on your policy are also considered. The number of years of driving experience each driver has, if they have claims, and if their have tickets are all rating factors. If you have nothing in the past 3 years, you will qualify for a CA Good Driver Discount. Vehicle Usage is another factor that is overlooked. Insurance companies rate for pleasure, commute or business use. Pleasure usage offers the lowest rates because it poses the least risk. You will also be rated based on annual mileage. Drivers in lower mileage brackets will be rated lower because they are on the road less and pose a smaller risk than those who drive over the average annual mileage in the state.
Will your insurance company take into consideration where you live when calculating your insurance rates?
Yes they do.