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What is the annual premium of Katy's car insurance if the base premium is 250.25 and the rating factor is 2.35 (Round to the nearest cent.)?
To calculate Katy's annual car insurance premium, multiply the base premium by the rating factor: (250.25 \times 2.35 = 587.5875). Rounding this to the nearest cent, the annual premium is $587.59.
Which term is defined as the payment an insured makes to the insurance company on a regular schedual?
that is the insurance premium (can be monthly, quarterly, semi-annual or annual premium).
What is the annual premium of Katy's car insurance if the base premium is 250.25 and the rating factor is 2.35?
$588.09 7/7/10 Pace High School
How does turning 21 affect a person's car insurance annual rate?
The annual rate of car insurance for people turning 21 will slightly decrease from previous years. Although the premium will not change by much, once the car owner reaches the age of 25 they will notice a much larger drop in the annual rate.
What is the required down payment for car insurance?
The required down payment for car insurance varies depending on the insurance company and policy. Typically, insurance companies may require a down payment of around 10-20 of the total annual premium.
What is the accounting journal entry to record financed annual insurance premium?
Debit annual insurance premiumCredit cash / bank
What are some different types of insurance terms?
The different types of insurance terms are "Annual renewable term" and "Level premium term." The Annual renewable term usually has the lowest annual premium to start and the Level renewable term lets you lock in your premium for that period.
How expensive is classic car insurance?
The price for insurance on a classic car can vary widely depending on the type of car, company and coverage chosen. For example: 1968 Dodge Charger R/T stock ($46,000 agreed value policy), annual premium: $376 while 1970 MG B stock ($5,000 agreed value policy), annual premium: $112. This explains more: http://www.insure.com/car-insurance/vintage-autos.html.
What is a car insurance premium?
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
What is gross premium car insurance?
Gross Premium is the Total premium indicated to be charged.
What is an auto insurance yearly premium?
An auto insurance premium is how much you are paying to receive coverage from the insurance company. While some companies offer semi-annual premiums, others will offer annual premiums. Each coverage you elect to carry will have their own premium amount. The total premium is found by adding all of these premiums together.
What is the average premium for md car insurance?
In 2009 the average auto insurance premium for residents in Maryland is $2,295.
