# Pricing of BonkCover

#### BonkCover Insurance Plans and Pricing Structure

BonkCover currently offers three different types of insurance policies, each available to users through NFTs. These NFTs can be purchased with $BONK tokens, and each premium package is renewed monthly, with renewal fees paid in $BONK. If a payout is made due to a fraudulent incident, the corresponding premium NFT will be burned and will no longer be functional.

**Insurance Plans:**

1. **Plan 1:** Costs the equivalent of $100 in $BONK tokens and provides coverage up to $250.
2. **Plan 2:** Costs the equivalent of $500 in $BONK tokens and provides coverage up to $750.
3. **Plan 3:** Costs the equivalent of $1000 in $BONK tokens and provides coverage up to $1400.
4. **Plan NFT : -Soon-**

<figure><img src="https://552900055-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F96lxO2JBfvIRTNANkg2a%2Fuploads%2FWPuoQGkATbtOHaLan8aU%2F2.png?alt=media&#x26;token=382dc507-b453-4c11-a70e-9533275be032" alt="" width="375"><figcaption></figcaption></figure>

After claiming an NFT, users must pay a monthly fee to maintain their insurance coverage. This fee is calculated as follows:

Monthly Fee=(Premium Package Number)×34$÷(Months Since Joining BonkCover÷1.85)

If the payment is missed and the user does not exit the system, the payment will reset to the amount for the first month.

**Example:**

Toly uses Plan 2 and claimed his NFT 3 months ago, making all payments for these months. The payment for the 4th month will be calculated as:

(2×34)÷(4÷1.85)=31.45$

This structured approach ensures that users are provided with clear and fair pricing while maintaining flexibility and scalability for their insurance needs.