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

Dishonest statement to induce an insurance company to write coverage on an applicant. If the company knew the truth, it would not accept the applicant. Fraudulent misrepresentation gives a ...

Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...

Means of distribution that uses general agents rather than branch offices to sell life and health insurance. ...

Contract that gives the insurance company the right, not the obligation, to buy a stipulated stock or bond at a specified price (strike price) at or before the date of expiration of the ...

Coverage for routine personal legal expenses, including probate, criminal defense, and divorce. ...

Use of a home, and the land and buildings surrounding that home, free from the claim of creditors. This right gives rise to an insurable interest. ...

Total amount of insurance that an insurer will write on any specific city block. Such a limit will reduce the insurer's exposure to a potential catastrophic occurrence, such as a hurricane, ...

Disability in which a wage earner is forever prevented from working at full physical capability because of injury or illness. ...

Protection required under the Motor Carrier Act of 1935. The policy covers the motor truck carrier if it is legally liable for the damage, destruction, or other loss of the customer's ...

Popular Insurance Questions