Work out premium to sum insured ratio instantly with clear inputs, formula shown and shareable results.
Expressing premium as a rate per mille of sum insured is the standard way to compare insurance pricing across years and across insurers, because sums insured change with indexation and rebuild cost while the underlying rate is what actually moves with the market and your risk profile.
Rate per mille
Rate = Annual premium / Sum insured x 1,000
Variance
Variance % = (Your rate - Benchmark rate) / Benchmark rate x 100
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
Because a premium that rose 10% while the sum insured rose 15% is actually a rate reduction. Only the rate isolates pricing from indexation.
Claims experience, occupancy hazard, poor risk controls, catastrophe exposure, or simply a hardening market in that class.