You are looking to get car insurance, with maximum coverage of 116 thousand USD. Let's model the probability of losses over the year as a discrete distribution, as follows:

1 K: 10%

5 K: 2%

10 K: 1%

50 K: 0.5%

116 K: 0.1%

If the insurance company wants a 10% premium over expected loss, how much will you have to pay for the policy? Hint: find the expected value of loss for the insurance company, and tack on 10%.