What Is A Premium In Auto Insurance?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    A premium is the amount that you are expected to pay to keep your insurance coverage in force. Most companies allow you to pay this amount monthly, quarterly, semi-annually, or annually. Each company sets its own requirements when it comes to payment schedules. Contact a local agent to find out what coverage and payment plans that he/she has available.
    Answered on May 20, 2013
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