A premium is the amount the policy states for the insurance. It is not the deductible, and it is not the coverage limit. The limit is the most the policy can pay. The deductible is what the form subtracts from a claim payment. The premium is what Insurance Code §381(f) requires the policy to specify.
What section 381 requires
Section 381 says a policy shall specify the parties, the property or life insured, the risks, and the period, and then either a statement of the premium or, if the exact premium can be determined only when the contract ends, a statement of the basis and rates on which the final premium is determined and paid. The declarations page is where that figure for the term is written. Choosing a different deductible or a different limit changes the application. It does not, by itself, publish the premium. A carrier sets the premium. This entry does not print one.
What to ask
Ask which term the stated premium covers, which vehicles or locations it includes, and whether the figure on the declarations page is the full statement §381(f) requires. The amount subtracted from a claim is the deductible.
Product pages: California car insurance and California renters insurance. Spanish: prima. Index: glossary.
Sources, checked October 14, 2026: Insurance Code §381.