Bonus Malus wherever possible.
Bonus Malus on a funeral policy or personal accident insurance? Of course not, these are precisely branches where applying bonus-malus is not possible. But if your package policy includes multiple coverages, lodged with different insurers, you will obviously want to be able to provide each part of the product with a specific bonus-malus system.
Examples of an insurance package to which multiple bonus/malus schemes may apply.
Packaged policy for individuals: | premium after claim-free years: starts at 100% |
|---|---|
PPP cover | 120,100,80,60,50% |
Legal expenses | 140,130,120,110,100,90,80% |
Contents | |
Buildings | 100 |
Men's bicycle | 100,90,80 |
Ladies' bicycle | 100,90,80 |
Bakfiets | 100,90,80 |
Electric scooter | 140,120,100,90 |
A caravan | 130,100,90,80 |
A boat | 130,110,100,90,80,70 |
So the bonus malus or no-claim for one item can be higher than for the other.
