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| Tulsa | | The best time to switch policies is | | Malicious Mischief: Similar to |
| Roanoke | | within one month of receiving your | | vandalism. Purposely damaging the |
| New York | | policy renewal from your current | | rights or property of another. |
| Erie | | insurer. You can typically cancel your | | |
| Rockford | | policy without any fees or penalties if | | Earned Income: The money |
| High Point | | you act within this time period. | | individuals earn as a result of working |
| Berkeley | | | | at some job or occupation for which |
| Bakersfield | | If you decide to cancel your policy | | they are paid a salary. |
| Englewood | | (after acquiring new coverage) | | |
| Spring Hill | | outside of the 30-day period, you may | | Loss Adjustment Expense: The cost |
| Shreveport | | have to pay a fee or penalty. | | of adjusting losses, excluding the |
| Nashville | | However, you may still save money | | amount of the loss itself. |
| Mesquite | | after paying the fee if your new policy | | |
| Nashua | | affords you significant savings. So | | American Risk and Insurance |
| Cincinnati | | while it is best to wait until your | | Association: An association of |
| Greenville | | receive your renewal notice, you CAN | | insurance educators and others |
| Ann Arbor | | cancel your policy at any time. | | interested in insurance study and |
| Pensacola | | | | research. |
| Decatur | | While some companies raise their | | |
| Inglewood | | prices based on your actual age, | | Partial Loss: A loss covered by an |
| Charleston | | most companies increase the price of | | insurance policy which does not |
| Newburgh | | their policies six months before your | | completely destroy or render |
| Jacksonville | | birthday. Its a term called Age | | worthless the insured property. |
| Westbury | | Nearest in the industry, and that | | |
| Grand Rapids | | half-year price increase could really | | Legislative Risk: A risk faced by |
| Springfield | | add up over a 20-year term policy. As | | investors whereby changes in tax |
| Riverside | | above, the quicker you purchase your | | laws can result in adverse effects on |
| Bayside | | policy the better. | | the individual's investment results. |