Insurance

What is a Premium?

Premium

[pree-mee-uh m]

noun

1.

A Premium is the payment made to the insurance company, either monthly or in a lump sum, to purchase insurance. The Premium does not include other costs like copays or deductibles.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Did You Know This Fact About Freestanding Structures?

Did You Know This Fact About Freestanding Structures?

Separate structures on your property may have to be insured separately.

What Determines Car Insurance Rates?

What Determines Car Insurance Rates?

Learn about the factors used to create car insurance quotes in this educational article.

Paying Off a Credit Card

Paying Off a Credit Card

Enter various payment options and determine how long it may take to pay off a credit card.