Premium

Premium

A policy’s premium is its price, typically a monthly cost. Often, an insurer takes multiple factors into account to set a premium. Here are a few examples:3

• Auto insurance premiums: Your history of property and auto claims, age and location, creditworthiness, and many other factors that may vary by state.
• Home insurance premiums: The value of your home, personal belongings, location, claims history, and coverage amounts.
• Health insurance premiums: Age, sex, location, health status, and coverage levels.
• Life insurance premiums: Age, sex, tobacco use, health, and amount of coverage.