Plain-English meaning
The price charged for an insurance policy for a stated period, before considering every payment-plan fee or tax.
Why it matters
A fair comparison needs matching forms, limits, deductibles, and endorsements.
Where you may see it
Quotes, declarations, renewal bills, escrow statements, and payment schedules.
What to verify
Policy period, installment fees, taxes, discounts, coverage assumptions, and changes from the prior term.
Do not confuse it with
A deductible, which is paid or absorbed when a covered loss occurs.
For policy-specific meaning, read the definition and related provision in the issued policy.