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Home > Maths I > Numbers and Money > Insurance premiums

Maths I

Insurance premiums

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Contents insurance

Example

Wisesure also offer contents insurance and the premium depends on which zone you live in and the type of cover you want.

Premium per £100

ZoneStandardSuper
A30p50p
B35p55p
C45p65p
D55p75p
Question

Juan lives in Zone C and wants to insure his house contents for £27000.

Find his premium if he takes out 'Super' cover.

Answer

Premium per £100 = 65p

Premium Due = 65p x (27000 / 100)

= 65p x 270

= 17550p

= £175.50

Try this one.

Question

Gabrielle lives in Zone A and insures her contents for £5500 using the 'Standard' cover.

Find her premium.

Answer

Premium per £100 = 30p

Premium due = 30p x (5500 / 100)

= 30p x 55

= 1650p

= £16.50

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