Insurance

What is a Premium?

Premium

[pree-mee-uh m]

noun

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?

Stay Safe with a B.O.P. At Your Back

Learn about the advantages of Business Owner Policies with this highly educational and fun animated video.

Did You Know Your Insurance Claims Aren’t Secret?

When you make an insurance claim, it can stay on record for up to seven years. Here's why CLUE reports are important and how they affect your premiums.