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
Did You Know This Fact About Smoke Detectors?
Do you know how often to change the batteries on your smoke detectors?
An Overview of Renter’s Insurance
Don’t overlook the need for renter’s insurance if you rent your home.
6 Tips to Help You Prepare for Natural Disasters
Disaster can strike at any time. These six tips can ensure you’re prepared when it does.