Your adjusted premium based on a current annual premium of $975, increased by a 28% penalty for being at fault in the second accident in six months, is <u>$1,248</u>.
<h3>What is the annual premium?</h3>
The annual premium is the amount that a policyholder pays to the insurance company for a one-year insurance policy.
The annual premium helps to guarantee payment of indemnity when the covered events occur.
This implies that the annual premium is a periodic contribution that helps in the pooling of risks by the insured to help the insurer meet its indemnity obligations.
<h3>Data and Calculations:</h3>
Current annual premium = $975
Increase in annual premium = 28%
Adjusted premium = $1,248 ($975 x 1.28)
Thus, the adjusted premium based on a current annual premium of $975, increased by a 28% penalty for being at fault in the second accident in six months, is <u>$1,248</u>.
Learn more about the annual premium at brainly.com/question/25280754
