Premium example
All the facts about your premium calculation
The factors we consider when calculating your premium include:
- Which business sector do you operate in?
- How high is the insurable turnover?
- How many bad debts have you suffered in recent years?
Your premium is calculated on the basis of your company turnover - excluding sales to public authorities at state, federal or municipal level and to your own branch offices and subsidaries. Your premium is calculated by multiplying your insurable turnover by the premium rate and the loss factor reflecting your individual risk and loss situation. The loss factor in the 1st insurance year is 1. The insurance premium thus calculated is only a fraction of a percentage point of your turnover.
Example of premium calculation
Turnover (of the last financial year): EUR 2.8 m
./. Cash turnover: EUR 0.2 m
./. Turnover with public authorities: EUR 0.5 m
= Insurable turnover: EUR 2.1 m
e.g. 0.2% premium on which = EUR 4,200 loss factor 1)
Premium: dependent on your risk and loss situation, plus insurance tax.
Let us calculate your personal premium. Our staff will be happy to assist you.
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Euler Hermes Group
