Insurance rate and its functions

The insurance rate is the rate of contribution to the unity of the sum insured or the insured object. With the base rate determined by the value of the premium that the insured has to pay in the insurance contract. To do this, the value of the tariff rate is multiplied by the sum insured specified in the contract.

For some types of insurance (insurance of passengers from accidents, vehicles, animals, and a few others) wage rates may be established with the object of insurance.

In particular, the insurance rate is determined by the passengers with a passenger, vehicle insurance rates can be set based on the brand of vehicle insurance animal - a species of insured animals. Moreover, if only one object is insured, the insurance premium equal to the tariff rate, and when there are many objects, the insurance premium is determined by multiplying the base rate by the number of objects.