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| Rockford | | Shopping around is the best way to | | Equity: The money value of an |
| Pembroke Pines | | save money on your insurance. | | insurance company that is over and |
| Birmingham | | | | above its liabilities. Liabilities include |
| Chicago | | The quickest and easiest way to | | almost all of its reserves. |
| Lakewood | | shop for new insurance is by | | |
| Clinton Township | | comparing rates at InsWebs online | | Premium: The price of insurance |
| Spartanburg | | marketplace. If you do it the | | protection for a specified risk for a |
| Albany | | old-fashioned way (by calling or | | specified period of time. |
| Phoenix | | visiting multiple agents or insurance | | |
| Longwood | | companies) it could take up a huge | | Lloyd's Broker: A person who has the |
| Salt Lake City | | chunk of your time, which no one | | authority to negotiate insurance |
| Orlando | | wants or needs. By completing | | contracts with the underwriters on the |
| New York | | InsWebs online application, you will | | floor at Lloyd's. |
| Turlock | | have rates to compare to your old | | |
| Phoenix | | ones within minutes! | | Loss Adjustment Expense: The cost |
| Grand Rapids | | | | of adjusting losses, excluding the |
| Canton | | Make sure you have a new policy in | | amount of the loss itself. |
| Akron | | place before you cancel your old one | | |
| Waterloo | | to avoid a lapse in coverage. This will | | Cut Rate: This term generally applies |
| Pueblo | | also prevent having to figure out the | | to insurance companies who charge |
| Jersey City | | amount of any unused premium that is | | premiums below a normal or average |
| Fresno | | due to you from your old insurance | | rate. |
| Lincoln | | company, or having to spar with your | | |
| Cypress | | agent about exactly when your policy | | Mandatory Valuation Reserve: A |
| Charleston | | was cancelled and how much they | | reserve required by a state law to |
| Denton | | owe you. | | offset any declines in the valuation of |
| Fremont | | | | securities listed as admitted assets. |
| Des Moines | | At InsWeb, you can compare free | | |
| Monroe | | online insurance quotes from many of | | First Party Insurance: Insurance which |
| Eugene | | the nations leading insurance | | applies to coverage for the insured's |
| Amarillo | | companies. | | own property or person. Contrast with |
| Allentown | | | | Third Party Insurance. |
| Williamsburg | | If you decide to cancel your policy | | |
| Detroit | | (after acquiring new coverage) | | Level Commission System: A system |
| Norwalk | | outside of the 30-day period, you may | | of commissions in which the first year |
| Union | | have to pay a fee or penalty. | | and all renewal commissions are the |
| Florence | | However, you may still save money | | same percentage of the premium. |
| Clinton Township | | after paying the fee if your new policy | | |
| Venice | | affords you significant savings. So | | |
| Fairfax | | while it is best to wait until your | | |
| Jonesboro | | receive your renewal notice, you CAN | | |
| Silver Spring | | cancel your policy at any time. | | |
