Homeowners InsuranceHomebuying Glossary
Insurance Premium
Also known as Premium
The amount you pay — usually annually or monthly — to keep your insurance policy active.
In plain English
Your premium is the price of your homeowners insurance policy, based on factors like your home's value, location, claims history, and chosen coverage limits and deductible.
Why it matters
Raising your deductible slightly can noticeably lower your premium — worth discussing with your insurer if you're looking to trim monthly costs.
Where you'll run into it
Guides and tools on TheBuyingPath that cover insurance premium in context.
Related terms
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