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| Williamsburg | | While some companies raise their | | Broker of Record: A broker who has |
| Decatur | | prices based on your actual age, | | been designated to handle certain |
| Slidell | | most companies increase the price of | | insurance contracts for the |
| Bakersfield | | their policies six months before your | | policyholder. |
| Anaheim | | birthday. Its a term called Age | | |
| Cambridge | | Nearest in the industry, and that | | Tabular Plan: A retrospective rating |
| Cedar Rapids | | half-year price increase could really | | plan, which uses tables to furnish the |
| Stamford | | add up over a 20-year term policy. As | | various values for the rating formula. |
| Asheville | | above, the quicker you purchase your | | |
| Hendersonville | | policy the better. | | Accident Year Experience: Measures |
| Fort Smith | | | | premiums and losses relating to |
| Rochester | | If you decide to cancel your policy | | accidents which occurred during a |
| Pensacola | | (after acquiring new coverage) | | 12-month period. |
| Quincy | | outside of the 30-day period, you may | | |
| Rome | | have to pay a fee or penalty. | | Substandard Risk: A risk not |
| Kansas City | | However, you may still save money | | measuring up to underwriting |
| Johnson City | | after paying the fee if your new policy | | standards. It may still be written but |
| Springfield | | affords you significant savings. So | | usually at a surcharged premium. |
| Jackson | | while it is best to wait until your | | |
| Cherry Hill | | receive your renewal notice, you CAN | | Mutualization: The process of |
| Worcester | | cancel your policy at any time. | | converting a stock insurer to a mutual |
| Allentown | | | | insurer, accomplished by having the |
| Richmond | | The best time to switch policies is | | insurer buy stock and retire it. |
| El Paso | | within one month of receiving your | | |
| Lowell | | policy renewal from your current | | Renewal: The reestablishment of the |
| Milwaukee | | insurer. You can typically cancel your | | in-force status of a policy, the term of |
| Des Moines | | policy without any fees or penalties if | | which has expired or will expire |
| Long Island City | | you act within this time period. | | unless it is renewed. |
