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| Evansville | | Make sure you have a new policy in | | Cash Flow Underwriting: The use of |
| Wilmington | | place before you cancel your old one | | rating and premium collection |
| Chandler | | to avoid a lapse in coverage. This will | | techniques by insurance companies |
| Madison | | also prevent having to figure out the | | to maximize interest earnings on |
| Arlington | | amount of any unused premium that is | | premiums. |
| Columbus | | due to you from your old insurance | | |
| Belleville | | company, or having to spar with your | | Book Value: Refers to the value of |
| Muskegon | | agent about exactly when your policy | | assets as shown in the official |
| Edmond | | was cancelled and how much they | | accounting records of the company. |
| Corpus Christi | | owe you. | | |
| Pompano Beach | | | | Lapsed Policy: One which has been |
| Indianapolis | | If you decide to cancel your policy | | allowed to expire because of |
| Bellevue | | (after acquiring new coverage) | | nonpayment of premiums. |
| Waterloo | | outside of the 30-day period, you may | | |
| Yonkers | | have to pay a fee or penalty. | | Broker-Agent: One acting as an agent |
| Franklin | | However, you may still save money | | of one or more insurers and as a |
| Lake Charles | | after paying the fee if your new policy | | broker in dealing with one or more |
| Fredericksburg | | affords you significant savings. So | | other insurers. |
| Vero Beach | | while it is best to wait until your | | |
| Wilmington | | receive your renewal notice, you CAN | | Retrospective Premium: The final |
| Nashua | | cancel your policy at any time. | | premium in a retrospective rating |
| Hemet | | | | plan. See Retrospective Rating. |
| Spring Hill | | The best time to switch policies is | | |
| El Cajon | | within one month of receiving your | | Appraisal: An evaluation of property |
| Virginia Beach | | policy renewal from your current | | made to ascertain either the |
| Allentown | | insurer. You can typically cancel your | | appropriate amount of insurance to |
| Edison | | policy without any fees or penalties if | | be written or the amount of loss to be |
| Ventura | | you act within this time period. | | paid. |
