Premium Refund (Insurance & Financial Protection) - Definition, Examples, Advice | Bolder Money

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Property Liability Property Liability

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Definition

A return of a portion of your premium when certain conditions are met. It rewards you for low-risk behavior and minimal claims.

What to consider

Ensure settlement terms are clearly documented.
Review the impact on future coverage.
Seek professional advice if needed.

Real world scenarios

After lengthy negotiations, a policyholder agreed to a policy settlement that resolved a disputed claim.
A business reached a policy settlement with an insurer to cover partial losses.
An individual settled a claim with the insurer through a formal policy settlement agreement.

Related terms

Insurance & Financial Protection

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