Because it is a poorly-stated question.
The coverage details are irrelevant to the premium. The premium is stated, and I understand that the collision premium may be an "add-on", resulting in an actual premium of $292.80. Without a definition or clarification of the difference between this value and the "annual" premium the problem statement is irrational. IS the stated premium monthly, quarterly, semi-annual or annual?
Further, without reference to some other scale or multiplier, the "driver-rating factor" is meaningless.