| | | | |
|
| Hartford | | If you decide to cancel your policy | | Claim Report: A report filed by an |
| Duluth | | (after acquiring new coverage) | | agent setting forth the facts of a claim. |
| Sioux Falls | | outside of the 30-day period, you may | | Same as Loss Report. |
| Monroe | | have to pay a fee or penalty. | | |
| Salt Lake City | | However, you may still save money | | Society of Insurance Research: An |
| Greeley | | after paying the fee if your new policy | | organization which encourages |
| Morristown | | affords you significant savings. So | | insurance research and promotes the |
| Lawrenceville | | while it is best to wait until your | | exchange of ideas and methods of |
| Myrtle Beach | | receive your renewal notice, you CAN | | research. |
| Schenectady | | cancel your policy at any time. | | |
| Mansfield | | | | Fictitious Groups: Groups formed |
| Las Cruces | | While some companies raise their | | primarily for the purpose of buying |
| Plano | | prices based on your actual age, | | insurance. Under the law such groups |
| Henderson | | most companies increase the price of | | may not be underwritten. |
| Frederick | | their policies six months before your | | |
| High Point | | birthday. Its a term called Age | | You/Your: These words are used to |
| Sunnyvale | | Nearest in the industry, and that | | refer to the named insured in many of |
| Sterling Heights | | half-year price increase could really | | the modernized/personalized policy |
| Rochester | | add up over a 20-year term policy. As | | forms. |
| Pompano Beach | | above, the quicker you purchase your | | |
| St. Joseph | | policy the better. | | Book Value: Refers to the value of |
| Grand Prairie | | | | assets as shown in the official |
| Des Moines | | If you have noticed that your auto | | accounting records of the company. |
| New Port Richey | | insurance rates are still increasing | | |
| Oxnard | | with each renewal, or even have not | | Collusion: An agreement, usually |
| Fort Smith | | gone down even though you have a | | secret, between two or more persons |
| Bethlehem | | great driving record, this lower pricing | | to defraud or deprive another or |
| Owensboro | | trend makes it more important then | | others of their property or rights. |
| Evanston | | ever that you shop around for auto | | |
| Fort Myers | | insurance. | | Commission of Authority: A document |
| Tampa | | | | outlining the powers delegated to an |
| Fort Myers | | Make sure you have a new policy in | | agent by an insurer. |
| Waco | | place before you cancel your old one | | |
| Vancouver | | to avoid a lapse in coverage. This will | | Mandatory Valuation Reserve: A |
| Cedar Rapids | | also prevent having to figure out the | | reserve required by a state law to |
| Toledo | | amount of any unused premium that is | | offset any declines in the valuation of |
| Toledo | | due to you from your old insurance | | securities listed as admitted assets. |
| Stockbridge | | company, or having to spar with your | | |
| Escondido | | agent about exactly when your policy | | |
| Tallahassee | | was cancelled and how much they | | |
| Springfield | | owe you. | | |
