To an insurer, you are a statistic. Your premiums are based on your risk factors, including your credit rating. Bad credit increases the amount you pay for your premiums. Make certain to check your credit report annually for accuracy. Only premium for bodily injury and property damage should be calculated, not the whole premium. (Use tables 20.5. 20.6.20.7.) a. Calculate the premium for someone in class 20 for 10/20/5. Note: This premium is for compulsory insurance. Premium b. Determine how much the premium will be for class 20, 100/300/50. Premium c. What is the difference between the two? Difference TABLE 20-5 Compulsory insurance (based on dass of driver) BODILY INJURY TO OTHERS Class 10/20 $ 55 10 DAMAGE TO SOMEONE ELSE'S PROPERTY Class 5M $129 160 18 160 186 17 18 116 Explanation of 10/20 and 5 _20 20 185 5 10 10 I Maximum paid to one person per accident for bodily injury "M means thousands Maximum paid for total bodily injury per occident Macmum paid for property damage per accident 20-6 TABLE Bodily injury Class 15/30 20/40 20/50 25/50 25/60 50/100 100/300 250/500 500/1,000 10 27 374044 47 69 94 144 187 17 37 52 58 63 69 104 146 228 298 18 33 46 50 55 60 89 124 1 93 251 20 41 59 65 72 78 119 168 263 TABLE 20-7 50M Class 10 10M 132 135 Damage to someone else's property 25M 134 166 166 193 100M 136 169 169 197 17 18 20 168 168 195 164 191