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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%

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