Insurance Premium Calculator
This estimator provides non-binding premium estimates for common insurance categories: auto, term life, individual health (subsidy-adjusted), and commercial equipment. The tool is designed for planning and budgeting, not for underwriting or issuing coverage.
Estimates are produced from simplified actuarial-style formulas that use the inputs you provide. Actual premiums require underwriting, detailed risk classification, and may include fees, taxes, and discounts not modeled here. Use results only as indicative guidance.
Governance
Record acd9f3344028 • Reviewed by Fidamen Standards Committee
Estimate annual premium using vehicle exposure, driving history, mileage, vehicle age, and local risk factor.
Inputs
Results
Estimated annual premium (auto)
$173.60
| Output | Value | Unit |
|---|---|---|
| Estimated annual premium (auto) | $173.60 | USD |
Visualization
Methodology
Each method uses a transparent, arithmetic model combining exposure (value or coverage amount), base rate assumptions, and multiplicative risk factors. Models are intentionally conservative and simplified to be explainable and auditable.
Security and data handling recommendations follow NIST and ISO guidance: sensitive inputs must be treated per NIST SP 800-53 controls and ISO/IEC 27001 principles when stored or transmitted. Results that reference program eligibility (for example, health subsidies) are approximations and do not substitute official enrollment systems.
Key takeaways
Outputs are estimates only. Use them to compare scenarios, test sensitivity (change a single input), and prepare questions for licensed agents or brokers.
The tool includes guardrails and clamping for unrealistic subsidy values, but it does not replace carrier underwriting or program eligibility determinations.
Worked examples
Example: A $20,000 vehicle with average location factor (1.0), no driver points, and 12,000 annual miles: exposure = 20; base rate $8 → estimated annual premium ≈ $8 × 20 × (risk_score close to 1) = ~$160.
Example: Term life for a 35-year-old non-smoker, $250,000 coverage, 20-year term: base rate $0.5 per $1,000 → annual ≈ (250 × 0.5) × age_multiplier ≈ $125–$200 depending on age multiplier and smoker status.
F.A.Q.
Are these premiums exact or binding?
No. These are quick estimates for planning. Final premiums are determined by carriers after underwriting, background checks, and application of state taxes, fees, and discounts.
How accurate are the subsidy estimates for health insurance?
They are simplified approximations based on household income and family size and should be used only for budgeting. Official subsidy calculations are state-specific and use program rules not fully replicated here.
How should I treat the results for commercial underwriting?
For commercial equipment, treat the result as a starting quote. Full underwriting will consider business class, storage and usage patterns, loss history, and legal requirements.
What privacy and security practices should I expect?
Data handling should follow NIST SP 800-53 and ISO/IEC 27001 guidance. Do not enter sensitive personal identifiers unless you trust the hosting site and understand their privacy policy.
Can I calibrate the base rates to my carrier or broker quotes?
Yes. Change the base rate and rate-per-1,000 fields to align model outputs with known premiums. The tool is designed to be transparent so you can calibrate parameters for local accuracy.
Sources & citations
- NIST Special Publication 800-53 (security and privacy controls) — https://csrc.nist.gov/publications/detail/sp/800-53/rev-5/final
- NIST Cybersecurity Framework — https://www.nist.gov/cyberframework
- ISO/IEC 27001 (information security management) — https://www.iso.org/isoiec-27001-information-security.html
- National Association of Insurance Commissioners (NAIC) — consumer and regulatory resources — https://www.naic.org/
- Centers for Medicare & Medicaid Services (CMS) — Marketplace & subsidy rules — https://www.cms.gov/
- Occupational Safety and Health Administration (OSHA) — workplace risk standards — https://www.osha.gov/
- NAIC — National Association of Insurance Commissioners — https://content.naic.org/
- Insurance Information Institute — https://www.iii.org/
Further resources
Versioning & Change Control
Audit record (versions, QA runs, reviewer sign-off, and evidence).
Record ID: acd9f3344028What changed (latest)
v1.0.0 • 2025-11-16 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Public QA status
PASS — golden 25 + edge 120
Last run: 2026-01-23 • Run: golden-edge-2026-01-23
Versioning & Change Control
Audit record (versions, QA runs, reviewer sign-off, and evidence).
What changed (latest)
v1.0.0 • 2025-11-16 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Public QA status
PASS — golden 25 + edge 120
Last run: 2026-01-23 • Run: golden-edge-2026-01-23
Engine
v1.0.0
Data
Baseline (no external datasets)
Content
v1.0.0
UI
v1.0.0
Governance
Last updated: Nov 16, 2025
Reviewed by: Fidamen Standards Committee (Review board)
Credentials: Internal QA
Risk level: low
Reviewer profile (entity)
Fidamen Standards Committee
Review board
Internal QA
Entity ID: https://fidamen.com/reviewers/fidamen-standards-committee#person
Semantic versioning
- MAJOR: Calculation outputs can change for the same inputs (formula, rounding policy, assumptions).
- MINOR: New features or fields that do not change existing outputs for the same inputs.
- PATCH: Bug fixes, copy edits, or accessibility changes that do not change intended outputs except for previously incorrect cases.
Review protocol
- Verify formulas and unit definitions against primary standards or datasets.
- Run golden-case regression suite and edge-case suite.
- Record reviewer sign-off with credentials and scope.
- Document assumptions, limitations, and jurisdiction applicability.
Assumptions & limitations
- Uses exact unit definitions from the Fidamen conversion library.
- Internal calculations use double precision; display rounding follows the unit's configured decimal places.
- Not a substitute for calibrated instruments in regulated contexts.
- Jurisdiction-specific rules may require official guidance.
Change log
v1.0.0 • 2025-11-16 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Areas: engine, content, ui • Reviewer: Fidamen Standards Committee • Entry ID: 3752a04cdced