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

Taking over of an insurance company's assets by the State Insurance Commissioner when examination of the annual report reveals that the company is in substantial financial difficulty. The ...

Legal instrument posted by a contractor or craftsman to guarantee that completed work is free of flaws and will perform its intended function for a specified period of time. ...

Coverage for an insured when negligent acts and/or omissions result in bodily injury and/or property damage on the premises of a business, when someone is injured as the result of using the ...

Insurance coverage placed by a broker with an insurance company. ...

Husband's interest in his wife's property upon her death. A husband has an insurable interest in that property and can purchase a property and casualty insurance policy to cover the ...

Instrument that guarantees compliance with various city, county, and state laws that govern the issuance of a particular license to conduct business. ...

Coverage for present and past U.S. uniformed services members under one of these programs: United States Government Life Insurance (USGLI) established in 1919 to provide RENEWABLE TERM LIFE ...

Person, business, or organization specified as the insured (s) in a property or liability insurance policy. In some instances, the policy provides broader coverage to persons other than ...

Documentation of loss required of a policyowner by an insurance company. For example, in the event of an insured's death, a death certificate (or copy) must be submitted to the company for ...

Popular Insurance Questions