Renewal Premium


Definition of "Renewal premium"

Payment due on the renewal of an insurance policy. The premium may be adjusted up or down to reflect the loss experience of the underwriting classification to which the insured belongs.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Cove

Small navigable body of water having limited water access and egress. Coves are often secluded an ...

Floor Plan Insurance

Coverage for a lender who has accepted property on the floor of a merchant as security for a loan. I ...

Resident Agent

Salesperson who markets and services insurance policies in the state in which he or she is domiciled ...

Front-end Money

Amount of money that must be charged or invested in the initial stage of a business transaction to d ...

Leasehold Insurance

Coverage for a tenant with a favorable lease (enabling the lessee to rent premises for less than the ...

Community Reinvestment Act

An Act, passed by congress in order to prevent the practice of redlining and disinvestments in centr ...

Related Real Estate FAQ

What Is Underwriting?

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

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a ...

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

What Is A Term?

A term is the length of a loan. ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

What Is Zoning?

Zoning is the laws that establish how a property can be used and what codes must be followed when er ...

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

How to become a real estate agent Why Use a Real Estate Agent? What is Hazard Insurance? Rent or Buy - the pros and cons What Must I Disclose When Selling My Home?

FAQ

What is a seller disclosure? What is a debt-to-income ratio? What is accession? What is a counteroffer? What is Loan Amortization?