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
Insuring Your Second Home
There are unique risks of owning a second home and obtaining the proper coverage may protect you from financial risk.
Did You Know This Fact About Freestanding Structures?
Separate structures on your property may have to be insured separately.
Will It Pay to Buy Travel Insurance This Summer?
While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.