What is the Definition of Premium Tax?

What is the Definition of Premium Tax?

A state tax on premiums paid by its residents and businesses and collected by insurers.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

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What is the Definition of Premium Tax?

You can find random definition and meaning of insurance terms below:


What is the meaning of Scheduled Personal Property

Additional optional insurance coverage for high-value appraised personal property that can be added to a homeowners, renters or condo policy.  This can include jewelry, furs, or cameras.


What is the meaning of Specialty Auto Insurance (also known as Powersports)

Coverage available for other vehicles you own that are not automobiles, such as motorcycles, recreational vehicles, boats, snowmobiles, and all-terrain vehicles.


What is the meaning of SR-22/FR-44

A legal document filed if you are convicted of certain traffic violations or driving under the influence of alcohol or drugs. The state may require you to file an SR-22/FR-44 to verify that you maintain auto liability coverage. Both forms are official documents showing proof of financial responsibility, but use different titles based on your state of residence. If an SR-22/FR-44 should expire or be canceled, an insurance company will issue an SR-26/FR-46 form, which certifies the cancellation of the policy.


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