Insurance Premium
The recurring amount you pay, monthly or yearly, to keep an insurance policy active.
The premium is the price of insurance, paid regularly to maintain coverage for risks like illness, accidents, property damage, or liability. It is set by the insurer based on the likelihood and size of potential claims, your profile, and the deductible you choose. Premiums are a classic fixed, recurring expense, easy to overlook and easy to overpay if you never compare. Reviewing your policies periodically can cut costs without reducing meaningful protection. Assetli detects recurring premium payments and groups them so you can spot overlap or creeping increases.
Example
You pay a $60 monthly premium ($720 a year) for car insurance; skip it and you have no coverage when a claim arises.
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Related terms
Insurance Deductible (Excess)
The amount you pay out of pocket on a claim before your insurance starts covering the rest.
Recurring Transactions
Transactions that repeat at regular intervals — subscriptions, loan payments, salary deposits — essential for predicting future cash flow.
Fixed vs Variable Expenses
Fixed expenses remain constant each month (rent, subscriptions), while variable expenses fluctuate based on usage or behavior (groceries, dining, fuel).
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Insurance Claim
A formal request to your insurer to pay for a covered loss or event.
Liability Insurance
Coverage that pays for harm or damage you cause to other people or their property.
VAT (Value Added Tax)
A consumption tax added to the price of most goods and services, ultimately paid by the end consumer.
Tax Credit / Allowance
An amount subtracted directly from the tax you owe, reducing your bill euro for euro.
Tax Base
The amount of income or value on which tax is calculated, after deductions but before credits.
Tax Return
An annual filing that reports your income and deductions to calculate the tax you owe or are refunded.