| | | | |
|
| Fairfax | | If you decide to cancel your policy | | Admitted Company: An insurance |
| Detroit | | (after acquiring new coverage) | | company authorized and licensed to |
| Fall River | | outside of the 30-day period, you may | | do business in a given state. |
| Columbus | | have to pay a fee or penalty. | | |
| Newburgh | | However, you may still save money | | Leasehold: An agreement which |
| Baton Rouge | | after paying the fee if your new policy | | gives a person the right to use and |
| Tacoma | | affords you significant savings. So | | occupy property. |
| Rapid City | | while it is best to wait until your | | |
| Metairie | | receive your renewal notice, you CAN | | Book Value: Refers to the value of |
| Lima | | cancel your policy at any time. | | assets as shown in the official |
| Portsmouth | | | | accounting records of the company. |
| Santa Ana | | Healthy people have the best | | |
| Texarkana | | mortality risks and thus are much | | Depreciation: A decrease in the value |
| Palm Desert | | cheaper for companies to insure. This | | of any type of tangible property over |
| Springfield | | translates into lower rates for the | | a period of time resulting from use, |
| Williamsburg | | Super Preferred customer than | | wear and tear, or obsolescence. |
| Turlock | | someone with higher risk factors such | | |
| White Plains | | as a heart condition, cancer or | | Admitted (or Allowed) Assets: Assets |
| Lowell | | diabetes. Conversely, if you were | | whose values are permitted by state |
| Albany | | unhealthy when you acquired your | | law to be included in the annual |
| Stockbridge | | policy, and your health has now | | statement of the insurer. |
| Fayetteville | | improved, it might be time to shop for | | |
| Lubbock | | a new policy, as your rates are likely | | Adjustment Bureau: A firm organized |
| Torrance | | to be lower. | | to provide adjustment services to |
| Lakeland | | | | insurers not wishing to create their |
| Jasper | | Make sure you have a new policy in | | own claims division. |
| Decatur | | place before you cancel your old one | | |
| Olympia | | to avoid a lapse in coverage. This will | | Policy Anniversary: The anniversary |
| Pensacola | | also prevent having to figure out the | | of the date of issue of a policy as |
| Marietta | | amount of any unused premium that is | | shown in the policy declarations. |
| Fort Myers | | due to you from your old insurance | | |
| Fall River | | company, or having to spar with your | | Divided Cover: The placing of |
| Minneapolis | | agent about exactly when your policy | | insurance on a given subject or |
| Ventura | | was cancelled and how much they | | object with more than one insurer. |
| Buffalo | | owe you. | | |
