Definition of "Outstanding premiums"

Tracy  Epting real estate agent

Written by

Tracy Eptingelite badge icon

Texas Realty Cafe

Payments due to an insurance company but not yet paid.

Comments for Outstanding Premiums

Owoyemi Emmanuel Owoyemi Emmanuel said:

1) What is Outstanding Premium and how can it be cleared? 2) Can a monthly premium be paid quarterly some of the time?

May 05, 2021  22:03:45

 
Real Estate Agent

Hi Emmanuel! Outstanding premiums are essentially unpaid insurance bills; the only way to clear them is by paying them. As for your second question, that's something you'll have to discuss with your insurance provider. Hope we were of some help! 

May 06, 2021  20:02:02
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...

Process in life insurance by which an applicant who is uninsurable, or is a greater than average risk, seeks to obtain a policy from a company at a standard premium rate. Life insurance ...

Insurance against interruption of supply of goods and services. If firm A depends on firm B for its supply of goods and services, an interruption caused by damage or destruction to B can ...

Security sold by the issuer of the security directly to the purchasing financial institution without the inclusion of the investment banker in this process. Insurance companies are frequent ...

Very junior issues of debt, according to explicit statements in the indenture, which rank after other unsecured debt. ...

Rate of increase in asset value. ...

Frequency of illness, sickness, and diseases contracted. ...

Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...

Same as term Burglary Insurance: coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil ...

Popular Insurance Questions