What does Expenses mean? Read on to discover the definition & meaning of the term Expenses - to help you better understand the language used in insurance policies.
An expense is anything that money is spent on. In the context of insurance, it typically refers to the amount of money that a policyholder has to pay in premiums to receive insurance coverage over a period of time. For example, if a business has to make three payments of $3,000 per quarter for liability insurance, its liability insurance expense for the quarter will be $9,000.
We hope the you have a better understanding of the meaning of Expenses.