Prepaid insurance is nothing like expense book of next finacial to current finacial.

If ur insurance period is 1-1-2017 to 31-12-2017 

then 

upto 31-3-2017 expense book as insurance expense and for 1-4-2017 to 31-12-2017 record as a prepaid expense.

calculation will be like this:

insurance expense= Rs.10000*90 days/365 days=Rs. 2465

and left amt. record as prepaid expense Rs.7534

entry will be:

Insurance expense A/c Dr. 2465

Prepaid insurance exp. A/c Dr. 7534

  to party A/c. 10000