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
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.
Did You Know This Fact About Fire Extinguishers?
How often should you check your fire extinguishers? Do you know?
What is a Loss?
Do you know what a Loss is?