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| Lakeland | | The best time to switch policies is | | Nonassignable: A policy that the |
| Fresno | | within one month of receiving your | | owner cannot assign to a third party. |
| Rapid City | | policy renewal from your current | | Most policies are nonassignable |
| High Point | | insurer. You can typically cancel your | | unless approval is given by the |
| Anchorage | | policy without any fees or penalties if | | insurer. |
| Orange | | you act within this time period. | | |
| Jackson | | | | Accident Year Experience: Measures |
| Lake Charles | | If you decide to cancel your policy | | premiums and losses relating to |
| Fresno | | (after acquiring new coverage) | | accidents which occurred during a |
| Berkeley | | outside of the 30-day period, you may | | 12-month period. |
| Louisville | | have to pay a fee or penalty. | | |
| Jonesboro | | However, you may still save money | | Notice To Company: Written notice to |
| Erie | | after paying the fee if your new policy | | an insurer of the occurrence of an |
| Lexington | | affords you significant savings. So | | event which a claim is to be based. |
| Fremont | | while it is best to wait until your | | |
| Stockbridge | | receive your renewal notice, you CAN | | Mandatory Valuation Reserve: A |
| Canton | | cancel your policy at any time. | | reserve required by a state law to |
| Troy | | | | offset any declines in the valuation of |
| Rockville | | While some companies raise their | | securities listed as admitted assets. |
| Philadelphia | | prices based on your actual age, | | |
| Quincy | | most companies increase the price of | | Deductible: The portion of an insured |
| Alpharetta | | their policies six months before your | | loss to be borne by the insured |
| Midland | | birthday. Its a term called Age | | before he is entitled to recovery from |
| Billings | | Nearest in the industry, and that | | the insurer. |
| Portland | | half-year price increase could really | | |
| Baltimore | | add up over a 20-year term policy. As | | Claim Report: A report filed by an |
| Duluth | | above, the quicker you purchase your | | agent setting forth the facts of a claim. |
| Riverside | | policy the better. | | Same as Loss Report. |
