Page 190 - Motor Insurance Ebook IC 72

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the TP premium. The total of OD and T P would
thus be the final motor premium.

Example: Maruti Omni Bi-fuel 2008 (10,000/-) model
carrying capacity 4 + 1. IDV 150000/-. Air conditioner
installed Rs. 15000/- Insured member of Automobile
Association. NCB 35%. Paid driver employed, PA cover
required for passengers and driver 50,000 each.
Registration Indore (MP).

PREMIUM AMOUNT

Basic OD (Zone 2 , Age 2 years, cc below 4558.50
1000 @ 3.039 % on 150,000 ) 600.00
AC @ 4% on 15000 400.00
Bi-fuel 4% on 10000 5558.50
Total 200.00
Discount Auto. Association 5% ( Max) 200/- 938.50
NCB 35% ( 5558.5-200) 5358.5 3600.00
500.00
NET OD (A) 60.00
100.00
Basic TP 25.00
Bifuel vehicle 25.00
PA to Owner driver 100.00
LL to driver 25X1 810.00
PA to driver 25 X1 4410.00
PA to unnamed passengers 25 X 4

Total TP (B)

Total Premium

Similar pattern is used for two wheelers.

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