Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “renewal premium”

renewal premium

noun [C]    
INSURANCE money that you pay to make an insurance agreement continue for an extra period of time: It may be possible to save as much as 30% on a renewal premium by shopping around.
(Definition of renewal premium noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of renewal premium

Word of the Day


friendly or helpful

Word of the Day


Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More