What is an insurance premium?

What is an insurance premium?When you call for an auto insurance quote in Wichita KS what you are doing is asking for the premium. The premium is what the auto insurance company will charge you annually for the active cover you need or want. The premium that is offered is based on a number of factors such as the applicant’s age, sex, health and the area where they reside. During the year, the policy holder pays the premium either in a lump sum payment or spread out over multiple smaller payments. Over the years the premium will change and if the premiums are not paid, the insurance is considered to be null and void.

What do your insurance premiums cover?

The auto insurance quote Wichita KS provides you with the premium that you will pay for everything that is detailed in the policy itself. The price that the insured individual pays depends entirely on the policy and the type of protection provided. This is not only true for auto cover; it can provide cover as follows:

Life insurance:

This type of insurance generally pays out a lump sum upon the death of the policy holder, the payment is made to the beneficiary named in the plan or designated by the will. The insurance proceeds can be used to pay for funeral expenses, outstanding debt as well as living expenses for the family members left behind.

Health Insurance:

This insurance normally pays all or some of the medical expenses incurred when the insured visits a doctor’s office, purchases prescription drugs, requires surgical intervention, emergency and on-going care. Health insurance varies widely; the insured may have to pay for certain services or a set percentage of the total cost for the treatment.

Car Insurance:

The auto insurance quote Wichita KS gives the premium to cover damages to the policy holder’s car or other vehicle in the event of an accident. It also provides medical care and roadside assistance as well as cover for vandalism, theft, fire and other similar perils.

Home owners insurance:

This insurance premium is either paid annually or is combined with the mortgage payment. The insurance covers damage to the building and the contents in the event of fire, theft, flood and many other disasters as listed in the policy.

If you are looking for the best cover and rate ask for an auto insurance quote in Wichita KS from Andy Woodward Insurance Agency.

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