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

What is a Broker?

What is a Broker?

Do you know what a Broker is?

How Liability Coverage Protects Your Business

How Liability Coverage Protects Your Business

Protect your business by understanding the importance of liability insurance and how coverage works.

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.