The annual payment made to the homeowner's insurance company so that the insurance company will agree to cover the property for the following year. This amount is not the same thing as the portion of repairs that the homeowner will be responsible for in the event the homeowner makes a claim to the insurance company. The annual payment made to the homeowner's insurance company so that the insurance company will agree to cover the property for the following year. This amount is not the same thing as the portion of repairs that the homeowner will be responsible for in the event the homeowner makes a claim to the insurance company. premium post-morten deductible annual dues