Work out insurance premium for business instantly with clear inputs, formula shown and shareable results.
Commercial property and liability premiums are rated per mille of sum insured, then adjusted for hazard loading and credited for risk controls and a clean claims record. The effective rate per mille is the number to benchmark year on year, since sums insured change with indexation.
Base premium
Base = Sum insured x Rate per mille / 1,000
Net premium
Premium = Base x (1 + Risk loading %) x (1 - Discount %)
Indicative premium illustration only. Actual pricing depends on underwriting, policy wording, deductibles, jurisdiction and taxes or levies. Not insurance advice — obtain a quotation from an authorised insurer or broker.
Occupancy hazard, construction type, protections such as sprinklers and alarms, exposure to flood or storm, and claims experience.
Yes, usually materially. Retaining attritional losses removes the insurer's handling cost as well as the claims cost.