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| Arlington | | Make sure you have a new policy in | | Mutualization: The process of |
| Hattiesburg | | place before you cancel your old one | | converting a stock insurer to a mutual |
| Abilene | | to avoid a lapse in coverage. This will | | insurer, accomplished by having the |
| Bloomington | | also prevent having to figure out the | | insurer buy stock and retire it. |
| Santa Monica | | amount of any unused premium that is | | |
| Hemet | | due to you from your old insurance | | Policy Period (or Term): The period |
| Tuscaloosa | | company, or having to spar with your | | during which the policy contract |
| Chesapeake | | agent about exactly when your policy | | affords protection, e.g., six months or |
| Albuquerque | | was cancelled and how much they | | one or three years. |
| Albuquerque | | owe you. | | |
| Santa Monica | | | | Lloyd's Broker: A person who has the |
| Santa Ana | | The best time to switch policies is | | authority to negotiate insurance |
| Overland Park | | within one month of receiving your | | contracts with the underwriters on the |
| Lake Worth | | policy renewal from your current | | floor at Lloyd's. |
| Des Moines | | insurer. You can typically cancel your | | |
| Huntington Beach | | policy without any fees or penalties if | | Capital Sum: The maximum lump sum |
| Berkeley | | you act within this time period. | | payable in the event of accidental |
| Cranston | | | | death or dismemberment. |
| San Francisco | | The quickest and easiest way to | | |
| Tuscaloosa | | shop for new insurance is by | | Losses Incurred: The total losses, |
| Kansas City | | comparing rates at InsWebs online | | whether paid or not, sustained by an |
| Carlsbad | | marketplace. If you do it the | | insurer during a given period, e.g., 12 |
| Oklahoma City | | old-fashioned way (by calling or | | months. |
| Lorain | | visiting multiple agents or insurance | | |
| Roanoke | | companies) it could take up a huge | | Authorized Insurer: An insurer |
| Nashua | | chunk of your time, which no one | | authorized by the state to transact |
| Jackson | | wants or needs. By completing | | business in that state for specific |
| Alexandria | | InsWebs online application, you will | | types of insurance. |
| Manchester | | have rates to compare to your old | | |
| New Port Richey | | ones within minutes! | | Inspection: Independent checking on |
| Lowell | | | | facts about an applicant, |
| Salt Lake City | | If you decide to cancel your policy | | policyholder, or claimant, usually by a |
| Scottsdale | | (after acquiring new coverage) | | commercial inspection agency. |
| Melbourne | | outside of the 30-day period, you may | | |
| Zanesville | | have to pay a fee or penalty. | | |
| Kingsport | | However, you may still save money | | |
| Torrance | | after paying the fee if your new policy | | |
| San Bernardino | | affords you significant savings. So | | |
| Davenport | | while it is best to wait until your | | |
| Stuart | | receive your renewal notice, you CAN | | |
| Edison | | cancel your policy at any time. | | |
