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| Dubuque | | The best time to switch policies is | | Loss Adjustment Expense: The cost |
| Pensacola | | within one month of receiving your | | of adjusting losses, excluding the |
| Orange | | policy renewal from your current | | amount of the loss itself. |
| Lubbock | | insurer. You can typically cancel your | | |
| Omaha | | policy without any fees or penalties if | | Earned Income: The money |
| San Bernardino | | you act within this time period. | | individuals earn as a result of working |
| Jonesboro | | | | at some job or occupation for which |
| Gaithersburg | | People who are trying to quit | | they are paid a salary. |
| Jackson | | smoking, for example, might be best | | |
| Schaumburg | | suited purchasing a shorter term (and | | Will Ride: Coverage that remains in |
| Saginaw | | then replacing it with a longer term | | effect regardless of the geographical |
| Akron | | policy when they qualify for | | location in which a loss occurs. |
| Bayside | | non-tobacco prices). | | |
| Hattiesburg | | | | Net Retention: The amount of |
| Henderson | | Make sure you have a new policy in | | insurance that a ceding company |
| Peoria | | place before you cancel your old one | | keeps for its own account and does |
| Muskegon | | to avoid a lapse in coverage. This will | | not reinsure. |
| Amarillo | | also prevent having to figure out the | | |
| Jackson | | amount of any unused premium that is | | Agent's License: A certificate of |
| Long Island City | | due to you from your old insurance | | authority from the state which permits |
| Orange Park | | company, or having to spar with your | | the agent to conduct business. |
| Albuquerque | | agent about exactly when your policy | | |
| Charlotte | | was cancelled and how much they | | Valuation Clause: A clause stating the |
| New Orleans | | owe you. | | value of items for insurance |
| Nashville | | | | purposes, making it a valued policy. |
| Irving | | If you decide to cancel your policy | | |
| Mobile | | (after acquiring new coverage) | | Liquidity: The ability of an insurer to |
| Evansville | | outside of the 30-day period, you may | | convert its assets into cash to pay |
| Fort Worth | | have to pay a fee or penalty. | | claims if necessary. |
| Tempe | | However, you may still save money | | |
| Albany | | after paying the fee if your new policy | | Substandard Risk: A risk not |
| Huntsville | | affords you significant savings. So | | measuring up to underwriting |
| Kingsport | | while it is best to wait until your | | standards. It may still be written but |
| Fairfax | | receive your renewal notice, you CAN | | usually at a surcharged premium. |
| Fresno | | cancel your policy at any time. | | |
