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General

Premium

A premium is the amount you pay for insurance coverage, billed monthly, every six months, or annually. It is the ongoing cost of keeping your policy active regardless of whether you file a claim.

The amount you pay for insurance coverage. Usually billed monthly, every six months, or annually. Example: a typical personal auto policy might run roughly $1,200 to $1,800 per year, often paid in two six-month installments.