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

How Does an Umbrella Insurance Policy Work?

How Does an Umbrella Insurance Policy Work?

If you have a lot to lose, an Umbrella policy could be exactly what you need.

Rental Car Insurance: To Buy or Not to Buy

Rental Car Insurance: To Buy or Not to Buy

Before you buy insurance for your car rental, make sure you know what it covers. Find out the pieces of a car rental policy, and whether your regular auto coverages already have it.

Did You Know This Fact About Dryer Lint?

Did You Know This Fact About Dryer Lint?

Dryer lint is extremely flammable, and should be cleaned regularly