What is the minimum premium for an Insurance policy?
There is no one answer to this question as each company has a different minimum premium. Also, minimum premiums are always changing. The minimum premium for a given insurer will also depend on your business type, the line of insurance, and the type of policy. Some insurance companies writing small business policies still have minimum premiums of $500. However the current trend is towards raising the minimum premium to at least $750 or $1,000. Very few companies are writing policies with premiums below $750. In addition to the premium there are generally fees, and if the company is a non-admitted, surplus lines insurer additional taxes are always applicable. Personal insurance policies, such as auto and home insurance, generally have smaller minimum premiums. Some companies offer these policies with premiums as low as $200 to $350. • Do you do Business with Insurance Companies that are “Non- Admitted Insurers” (not licensed and regulated by the California Department of Insurance)? The s
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