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.

 

Related Content

What Determines Car Insurance Rates?

What Determines Car Insurance Rates?

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

Did You Know This Fact About Winterizing Your Car?

Did You Know This Fact About Winterizing Your Car?

Do you winterize your car? You should consider it.

5 Factors That May Impact Your Car Insurance Rate

5 Factors That May Impact Your Car Insurance Rate

While there are many factors that could affect your car insurance rates, these five you’ll want to keep at the top of your mind.