Calculate the Premium Payable for Building against Fire and Allied perils

Covered under Sections 1(a) and (b) of the Householder's Insurance scheme, the premium payable is Rs.0.65 per Rs.1000/- value of Sum Assured.

For a building valued at Rs.500000/-, the annual premium payable would be Rs.375/- only.

This covers the building, its fixtures and fittings as well as contents (excluding money and valuables) belonging to the insured and his family whilst lying in the insured premises.

Derive the Premium Payable for protecting the household against burglary, housebreaking, larceny or theft?

Covered under Sections 2 and 3 of the Householder's Insurance scheme, the premium payable would be Rs.2.40 per Rs.1000/- value of Sum Assured.

For goods valued at Rs.50000/-, the annual premium payable would be Rs.120/- only.

This will cover the household against burglary, housebreaking, larceny and theft.
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