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

Can Home Security Systems Affect Your Insurance?

Can Home Security Systems Affect Your Insurance?

In an effort to reduce the chance of considerable damage from robbery or theft, you may have recently implemented (or may still be considering) a home security system. Here’s how adding a home security system to your property may affect your insurance.

Life Insurance Needs in Your 60s and 70s

Life Insurance Needs in Your 60s and 70s

Many older people think it's too late for life insurance. Actually, life insurance can be part of a sound financial strategy for people in their 60s and 70s as well.

How to File a Wildfire Claim

How to File a Wildfire Claim

If your home or business has experienced devastation due to wildfires, here’s what you need to know about filing an insurance claim.