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If I enter zero (0) for estimated premiums, the calculators results display a percentage increase but don display additional premiums. Why?

April 26, 2017calculator display enter estimated increase PERCENTAGE premiums results Zero

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If I enter zero (0) for estimated premiums, the calculators results display a percentage increase but don display additional premiums. Why?

1 Answer

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Posted

The calculator is displaying the correct results. This claim scenario will change the additional claim costs, increased experience factor and percent of increase. To show an increase in premiums you must enter a dollar amount in the estimated premiums field. However, if you are planning on paying zero (0) premiums for the rating year selected, the system can’t calculate additional premiums.