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
10 Most Common and Costly Small Business Claims
Here are the 10 most common claims against small businesses. Are you covered?
Why Do You Need Auto Liability Insurance?
What is Auto Liability? Discover how important this coverage really is.
Directors and Officers Liability Insurance
Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making.