What is an annual premium in insurance?
A premium is the price you pay to buy an insurance policy. Premiums are your regular payments for many common insurance policies, including life, auto, business, homeowners and renters. If you fail to pay your premiums, you risk having your policy canceled.
What is an average annual premium?
Benefits of an annual (12-month) auto insurance policy\n\n If you add or remove a vehicle or driver, your premium will change, but otherwise, you will be immune to rate revision for at least one year.
How many months is an annual premium?
A premium is the amount of money charged by your insurance company for the plan you've chosen. It is usually paid on a monthly basis, but can be billed a number of ways. You must pay your premium to keep your coverage active, regardless of whether you use it or not.
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