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How to calculate car insurance premium

The following shows how to calculate the car insurance premium:

Example A : If the sum insured of the car is RM34,000, this is how to calculate…

Formula :
33 X 20.3 + 172.20 + 10 = 852.10 (1st year, no NCD yet)

Example B : If the sum insured is RM30,000, this is how it works…

Formula :
29 X 20.3 + 172.2 – 25% + 10 = 580.67 (2nd year, 25% NCD)

2nd year NCD 25%
3rd year NCD 30%
4th year NCD 38%
5th year NCD 45%
6th year & above NCD 55%

Categories: Blogs
  1. February 24, 2018 at 4:46 pm

    I’m impressed, I have to admit. Seldom do I come across a blog that’s both educative and interesting,
    and let me tell you, you’ve hit the nail on the head. The issue is an issue that too few folks are
    speaking intelligently about. I am very happy I came across this during my search for something regarding this.

  2. yuminni
    December 11, 2016 at 7:33 am

    why in example b, i dont get 580.67?? i get 615.65. can you please explain the calculation for me.

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