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
The Lowdown on Those Free Credit Scores
What’s the deal with your yearly free credit report?
Did You Know This Fact About Damaged Property?
Damaged property during the claims process shouldn't be thrown away.
When to Self-Insure
Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?