Yes, they certainly can. If the insurer finds additional information on your driving record such as undisclosed tickets or accidents and/or other risk factors such as undisclosed drivers or work related risks involved with your policy they can adjust your rates accordingly or even cancel the policy.
To avoid cancellation or premium up-rates to your policy it is always best to answer all questions truthfully and disclose all pertinent factors to the insurer at policy inception.
No, if Insurance premium is paid in advance then it is a Prepayment - current asset.
Premium
Prepayment of the premium before it is due.
No. The premium is the price you pay for the coverage. Depending on your insurance company, the premium may be paid all at once or in payments.
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
Premium is an amount to be paid for an insurance policy or something given as an award.
debit insurance premiumcredit cash / bank
A PFC in the US Army paid $6.50 as a monthly premium for $10,000 worth of life insurance in World War 2.
A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.
Could be paid for full term of your entire mortgage or paid off in full.
A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.
A life insurance policy becomes "fully paid up" when the company tells you no more premium payments are due.