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| Redlands | | While some companies raise their | | Liquidity: The ability of an insurer to |
| Sterling Heights | | prices based on your actual age, | | convert its assets into cash to pay |
| Delray Beach | | most companies increase the price of | | claims if necessary. |
| Detroit | | their policies six months before your | | |
| Joliet | | birthday. Its a term called Age | | Nonadmitted Insurer: An insurer not |
| Cedar Rapids | | Nearest in the industry, and that | | licensed to do business in the |
| Las Cruces | | half-year price increase could really | | jurisdiction in question. Same as |
| St. Joseph | | add up over a 20-year term policy. As | | Unauthorized Insurer and Unlicensed |
| Odessa | | above, the quicker you purchase your | | Insurer. |
| Quincy | | policy the better. | | |
| Ventura | | | | Expense Allowance: A compensation |
| Fort Smith | | If you decide to cancel your policy | | paid to an insurance agent in excess |
| Kingsport | | (after acquiring new coverage) | | of prescribed commissions. |
| Fort Smith | | outside of the 30-day period, you may | | |
| Warren | | have to pay a fee or penalty. | | Loss Adjustment Expense: The cost |
| San Bernardino | | However, you may still save money | | of adjusting losses, excluding the |
| Billings | | after paying the fee if your new policy | | amount of the loss itself. |
| Canton | | affords you significant savings. So | | |
| New Orleans | | while it is best to wait until your | | Mutualization: The process of |
| Escondido | | receive your renewal notice, you CAN | | converting a stock insurer to a mutual |
| Lake Charles | | cancel your policy at any time. | | insurer, accomplished by having the |
| Schaumburg | | | | insurer buy stock and retire it. |
| Clearwater | | Make sure you have a new policy in | | |
| Evanston | | place before you cancel your old one | | Shock Loss: A catastrophic loss so |
| Troy | | to avoid a lapse in coverage. This will | | large that it has a material effect on |
| Dothan | | also prevent having to figure out the | | the underwriting results of a company. |
| Inglewood | | amount of any unused premium that is | | |
| Corpus Christi | | due to you from your old insurance | | Brokerage Business: Business |
| Westbury | | company, or having to spar with your | | offered to an insurer by a broker. This |
| Pasadena | | agent about exactly when your policy | | is sometimes called excess or |
| Warwick | | was cancelled and how much they | | surplus business. |
| Morristown | | owe you. | | |
| Metairie | | | | Cut Rate: This term generally applies |
| Florence | | Shopping around is the best way to | | to insurance companies who charge |
| Corpus Christi | | save money on your insurance. | | premiums below a normal or average |
| Dothan | | | | rate. |
