Learn — Policy basics
Premium
What an insurance premium is, how carriers calculate it from coverage limits, deductibles, and risk factors, and what actions can raise or lower your premium.
Your premium is what you pay for insurance — monthly, quarterly, or annually. It is not what you receive at claim time; that depends on coverages, limits, and deductibles.
Higher deductibles usually lower premium. More coverage raises premium. Shop on value and adequacy, not price alone.