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What is an insurance premium?

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What is an insurance premium?

The query is from jan pays $70 each month for her auto insurance policy. this regular payment is called a: topic

I have been asked this question during an interview.

Other related questions to my question are:

What is an insurance premium?

What premiums mean?

What is an insurance premium and how is it calculated?

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Correct answer for this question is: An insurance premium is the amount you pay for an insurance policy. Simply put, premiums are what you pay insurance companies in exchange for coverage. Therefore, when you hear “insurance premium," think “insurance price.” You typically pay premiums monthly, semiannually or annually, depending on the policy.Aug 12, 2020

The title of my answer is What Is an Insurance Premium?

The reference of my answer is NerdWallet

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