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SCHEDULE OF BASE PREMIUM RATES WILL BE UPDATED SOON
Call our office for quote.
INSURANCE Prescribed by the Texas Department of Insurance
of the State of Texas effective November 1, 2002
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*Premiums
for Policies in Excess of $100,000.00 should be calculated using the
formulas below.
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Policies
up to and
including
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Basic
Premium
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Policies
up to and
including
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Basic
Premium
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Policies
up to and
including
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Basic
Premium
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1. For policies of
$100,001 - $1,000,000
Basic
Premium
(1)
Subtract $100,000 from policy amount.
(2)
Multiply result in 1.(1) by $.00590 and round to nearest whole dollar
(3)
Add $932 to result in 1.(2)
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2. For policies of
$1,000,001 - $5,000,000
Basic
Premium
(1)
Subtract $1,000,000 from policy amount.
(2) Multiply result in 2.(1) by $.00484 and round to nearest whole dollar
(3) Add $6,242 to result in 2.(2)
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3. For policies of
$5,000,001 - $15,000,000
Basic
Premium
(1)
Subtract $5,000,000 from policy amount.
(2) Multiply result in 3.(1) by $.00400 and round to nearest whole dollar
(3) Add $25,602 to result in 3.(2)
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4. For policies of
$15,000,001 - $25,000,000
Basic
Premium
(1)
Subtract $15,000,000 from policy amount.
(2) Multiply result in 4.(1) by $.00285 and round to nearest whole dollar
(3) Add $65,602 to result in 3.(2)
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5. For policies in
excess of $25,000,000.00
Basic
Premium
(1)
Subtract $25,000,000 from policy amount.
(2) Multiply result in 5.(1) by $.00170 and round to nearest whole dollar
(3) Add $94,102 to result in 5.(2)
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