Insurance Premiums

An insurance premium is the amount of money you pay to an insurance company to maintain your coverage. Think of it as a subscription fee for protection against specific risks, like accidents, health issues, or damage to property. Premiums can be paid monthly, quarterly, or annually, and their cost varies based on several factors, including your age, health, the type of coverage, and your claims history. Paying your premium ensures that if you face a loss or unexpected event, the insurance company will help cover some or all of the associated costs.