For getting the active coverage by the insurance companies, these premiums should be paid by the policy holder to the insurance company. Until the maturity of the policy occurs, the payment of the premiums should be done by the policy holder. There is a variance of premium amount from one company to the other and even the level of coverage also varies. One should be careful in selecting the premiums. As the companies are updating the information about the insurance premiums in their websites, one can get a clear view about the premiums to be paid and compare the quotes of different companies. One point to be kept in mind is that if you bargain for the lowest quote then there are chances of lowering the level of coverage.
Suppose, if we consider the cars, the fastest or the expensive car will have more premium amount when compared to the other cars. As the accidents may occur more with the faster cars. So, statistics will influence the insurance a lot.
Apart from the online services of the company, even the insurance company brokers will help you finding out the right insurance policy. They will calculate the level of cover and the premium amount by verifying all the information provided by you.
Generally, one has to pay the premiums either on monthly or yearly basis. One has to pay the premium within the time limit or else the policy might be lapsed.
Depending upon the type of insurance, the premiums may differ. For car insurance, younger driver will have more premium than the aged driver as the chances of accidents are more with the younger driver. Suppose, in the case of life insurance, the aged person will have more premiums as the chances of death are more with the aged person than the younger person. Coming to the medical insurance, the premiums are more for the smokers than the non-smokers.