What Does Minimum Premium Mean?

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What does Minimum Premium mean? Read on to discover the definition & meaning of the term Minimum Premium - to help you better understand the language used in insurance policies.

Minimum Premium

Minimum Premium

The least amount of premium to be charged for providing a particular insurance coverage. The minimum premium may apply in any number of ways such as per location, per type of coverage, or per policy.

We hope the you have a better understanding of the meaning of Minimum Premium.

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