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

Insurance company that underwrites and sells more than one line of insurance. ...

Exchange of a new policy for one already in force. ...

Nominal interest rate minus the rate of inflation. ...

Coverage for less than one year in duration. ...

Transaction in which the ceding company pays a premium and is guaranteed certain future payments to fund future losses. If losses are less than was expected, the ceding company receives a ...

Coverage to pay basic expenses for an insured and his or her family in states with no fault automobile insurance. No-fault laws generally require drivers to carry both liability insurance ...

Life insurance on the life of a child that provides a death benefit to a beneficiary should the child die during a stipulated time period and the maturity value of the policy at the end of ...

Insurance company's total number of agents. ...

Denial of coverage for various perils (such as war, flood); hazards (storing dynamite in the home, thereby increasing the chance of loss); property (such as pets); and locations. These are ...

Popular Insurance Questions