How Do I Find My Premium Rate?
An insurance premium rate is the amount a policy holder pays in a lump sum or monthly installments for coverage. Coverages range greatly from automobile, to homeowners or renters insurance, health insurance, life insurance, disability insurance, and dental and vision insurance. When a person takes out an insurance policy, the premium rate is based on a number of factors including the amount of coverage and the billing term. Therefore, premiums vary greatly depending on the policy and what is being covered.
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Instructions
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Retrieve your last policy billing statement. This can be a hard-copy or online, using the insurance company's website customer service portal.
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Find the insurance coverage itemization schedule. Most often, this is a table or chart detailing the coverage amount, item or subject of insurance, deductible(s), premium, and term or length of coverage.
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Calculate your premium rate. If paid in monthly installments, multiply the monthly payment by the term of the coverage. For instance, if looking at automobile insurance, the monthly rate might be $150 over a six month term, your premium would be $900.
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Tips & Warnings
If you are unsure about the term, simply look for the date of next renewal in the coverage schedule. The statement will list the date of last renewal and the next date of renewal.
If you have multiple policies, such as differing life insurance coverages, phone your agent and ask for the rate premiums for each policy.
