Unearned Premium

The portion of your premium remaining on your policy term. For example, with a six-month premium, at the end of the first month of the premium period, five-sixths of the premium is unearned by the insurance company

See Also: Threshold Level; Tort; Transportation Expenses; Uninsured Motorists Bodily Injury; Usage; VIN Vehicle Identification Number; Waiver of Collision Deductible;

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