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| Fort Collins | | If you decide to cancel your policy | | Losses Incurred: The total losses, |
| Cypress | | (after acquiring new coverage) | | whether paid or not, sustained by an |
| Hemet | | outside of the 30-day period, you may | | insurer during a given period, e.g., 12 |
| Jasper | | have to pay a fee or penalty. | | months. |
| Charleston | | However, you may still save money | | |
| Schenectady | | after paying the fee if your new policy | | Index Bureau Experience: A measure |
| Columbus | | affords you significant savings. So | | of losses relating to claims reported |
| Rochester | | while it is best to wait until your | | through a claim office during a |
| Little Rock | | receive your renewal notice, you CAN | | 12-month period. |
| Lansing | | cancel your policy at any time. | | |
| Las Vegas | | | | Monoline Policy: Any insurance |
| Irving | | People who are trying to quit | | coverage written as a single line |
| Fall River | | smoking, for example, might be best | | policy. Contrast with Multiple Line or |
| Sarasota | | suited purchasing a shorter term (and | | Package policy. |
| Charlotte | | then replacing it with a longer term | | |
| Cookeville | | policy when they qualify for | | Loss Frequency: The number of times |
| Anderson | | non-tobacco prices). | | a loss occurs over a specific period |
| Beaumont | | | | of time. |
| Daytona Beach | | The quickest and easiest way to | | |
| Garland | | shop for new insurance is by | | Premises: The particular location of |
| St. Joseph | | comparing rates at InsWebs online | | property or a portion thereof as |
| Sacramento | | marketplace. If you do it the | | designated in a policy. |
| Daytona Beach | | old-fashioned way (by calling or | | |
| Valdosta | | visiting multiple agents or insurance | | Malicious Mischief: Similar to |
| Shreveport | | companies) it could take up a huge | | vandalism. Purposely damaging the |
| Fayetteville | | chunk of your time, which no one | | rights or property of another. |
| Eugene | | wants or needs. By completing | | |
| Mansfield | | InsWebs online application, you will | | Fictitious Groups: Groups formed |
| Jackson | | have rates to compare to your old | | primarily for the purpose of buying |
| Pensacola | | ones within minutes! | | insurance. Under the law such groups |
| Huntsville | | | | may not be underwritten. |
| El Cajon | | Make sure you have a new policy in | | |
| Honolulu | | place before you cancel your old one | | Sole Proprietorship: A business |
| Daytona Beach | | to avoid a lapse in coverage. This will | | enterprise owned by one person who |
| Chicago | | also prevent having to figure out the | | is its manager and employee. |
| Anderson | | amount of any unused premium that is | | |
| Panama City | | due to you from your old insurance | | |
| Springfield | | company, or having to spar with your | | |
| Troy | | agent about exactly when your policy | | |
| Silver Spring | | was cancelled and how much they | | |
| Canton | | owe you. | | |
