Extra Premium


Definition of "Extra premium"

Joe Jovanovic
  Keller Williams Realty

Addition to reflect exposures with a greater probability of loss than standard exposures. For example, insuring a munitions factory obviously requires a premium greater than that required for insuring an accounting office.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Insurability

Circumstance in which an insurance company can issue life or health insurance to an applicant based ...

Mutually Exclusive

Describing an instance where the occurrence of one event precludes the occurrence of a second event; ...

Net Income After Taxes

Total of operating income plus realized capital gains (losses) from investment and underwriting oper ...

Contingency Fund

Money set aside for a possible loss, such as from a fire. ...

Comprehensive Insurance

Coverage in automobile insurance providing protection in the event of physical damage (other than co ...

Countersignature Law

State law that requires that an insurance policy issued by an insurance company in a particular stat ...

Related Real Estate FAQ

What Is Loan Amortization?

This calculator will amortize your mortgage over the loan period based on your input. To see a break ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and ...

What Does Fannie Mae Mean?

Fannie Mae is a name used by the Federal National Mortgage Association, which is a government-charte ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

What Is Underwriting?

Underwriting is the process of evaluating a loan to determine whether the loan is a good risk. ...

What Is An Origination Fee?

An origination fee is a fee paid to a lender for processing a loan application. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Mortgage Loan Types Top Five Reasons Your Home Offer was Rejected 5 signs of house foundation problems What is Escrow and how does it Work? What is the Best Time of Year to Buy a Home?

FAQ

What do I need to know about Auto Insurance? What is a foreclosure? What is a lease purchase mortgage? What do I need to know about Renters Insurance, and what does it cover? What is an index?