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| Newport News | | If you decide to cancel your policy | | Single Limit: Any insurance coverage |
| Schaumburg | | (after acquiring new coverage) | | which is expressed as a single |
| Santa Monica | | outside of the 30-day period, you may | | amount of insurance, or a single limit |
| Frederick | | have to pay a fee or penalty. | | of liability. Contrast with Split Limit. |
| Duluth | | However, you may still save money | | |
| Bloomington | | after paying the fee if your new policy | | Equity: The money value of an |
| Allentown | | affords you significant savings. So | | insurance company that is over and |
| Pembroke Pines | | while it is best to wait until your | | above its liabilities. Liabilities include |
| Rochester | | receive your renewal notice, you CAN | | almost all of its reserves. |
| Minneapolis | | cancel your policy at any time. | | |
| Williamsport | | | | Collusion: An agreement, usually |
| Zanesville | | The best time to switch policies is | | secret, between two or more persons |
| Cypress | | within one month of receiving your | | to defraud or deprive another or |
| Huntsville | | policy renewal from your current | | others of their property or rights. |
| Fort Worth | | insurer. You can typically cancel your | | |
| Lawrenceville | | policy without any fees or penalties if | | Indemnity: Restoration to the victim of |
| Greensboro | | you act within this time period. | | a loss by payment, repair, or |
| Syracuse | | | | replacement. |
| Chandler | | At InsWeb, you can compare free | | |
| Trenton | | online insurance quotes from many of | | Incurred Expense: Expenses not yet |
| Alameda | | the nations leading insurance | | paid. Can also include paid |
| Toledo | | companies. | | expenses in some accounting |
| Denver | | | | systems. |
| Tempe | | Healthy people have the best | | |
| Palo Alto | | mortality risks and thus are much | | Valued: Relating to an agreement by |
| Little Rock | | cheaper for companies to insure. This | | an insurer to pay a specified amount |
| Glendale | | translates into lower rates for the | | of money to or on behalf of the |
| Mobile | | Super Preferred customer than | | insured upon occurrence of a defined |
| Odessa | | someone with higher risk factors such | | loss. |
| Hartford | | as a heart condition, cancer or | | |
| Rochester | | diabetes. Conversely, if you were | | Time Limits: The limits of time within |
| Colorado Springs | | unhealthy when you acquired your | | which notice of a claim and proof of a |
| Santa Clara | | policy, and your health has now | | loss must be submitted. |
| Vero Beach | | improved, it might be time to shop for | | |
| Cherry Hill | | a new policy, as your rates are likely | | |
| Albany | | to be lower. | | |
