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| San Francisco | | If you decide to cancel your policy | | Brokerage Business: Business |
| Denver | | (after acquiring new coverage) | | offered to an insurer by a broker. This |
| Greeley | | outside of the 30-day period, you may | | is sometimes called excess or |
| Little Rock | | have to pay a fee or penalty. | | surplus business. |
| Baltimore | | However, you may still save money | | |
| Longmont | | after paying the fee if your new policy | | Calendar Year Experience: This |
| Flushing | | affords you significant savings. So | | measures the premiums and losses |
| Englewood | | while it is best to wait until your | | entered on accounting records during |
| Wilmington | | receive your renewal notice, you CAN | | the 12-month calendar. |
| Youngstown | | cancel your policy at any time. | | |
| Turlock | | | | Inspection: Independent checking on |
| Clinton Township | | People who are trying to quit | | facts about an applicant, |
| Mesa | | smoking, for example, might be best | | policyholder, or claimant, usually by a |
| Peoria | | suited purchasing a shorter term (and | | commercial inspection agency. |
| Newark | | then replacing it with a longer term | | |
| Cincinnati | | policy when they qualify for | | Policy Period (or Term): The period |
| Boynton Beach | | non-tobacco prices). | | during which the policy contract |
| Lancaster | | | | affords protection, e.g., six months or |
| Williamsport | | If you have noticed that your auto | | one or three years. |
| Troy | | insurance rates are still increasing | | |
| Kansas City | | with each renewal, or even have not | | Loss Frequency: The number of times |
| Chesapeake | | gone down even though you have a | | a loss occurs over a specific period |
| Springfield | | great driving record, this lower pricing | | of time. |
| Indianapolis | | trend makes it more important then | | |
| Riverside | | ever that you shop around for auto | | Valuation Clause: A clause stating the |
| Schaumburg | | insurance. | | value of items for insurance |
| Manchester | | | | purposes, making it a valued policy. |
| Springfield | | Individuals who have 30-year | | |
| Huntington Beach | | mortgages might want to consider a | | Leasehold: An agreement which |
| Wichita | | 30-year term to ensure that the house | | gives a person the right to use and |
| Jackson | | is protected throughout the period of | | occupy property. |
| North Hollywood | | the loan. | | |
| Reading | | | | Losses Incurred: The total losses, |
| Bay City | | Everyone has different needs, and | | whether paid or not, sustained by an |
| New York | | not one size fits all when it comes to | | insurer during a given period, e.g., 12 |
| Las Vegas | | term life insurance. While it may make | | months. |
| Fort Lauderdale | | sense for people in their 30s and 40s | | |
| Mansfield | | to secure a 20-year term length, a | | |
| Williamsport | | 10-year term might be more | | |
| Columbus | | appropriate for someone nearing | | |
| Stuart | | retirement. | | |
