| | | | |
|
| Bethlehem | | The best time to switch policies is | | Single Limit: Any insurance coverage |
| Cypress | | within one month of receiving your | | which is expressed as a single |
| Athens | | policy renewal from your current | | amount of insurance, or a single limit |
| Atlanta | | insurer. You can typically cancel your | | of liability. Contrast with Split Limit. |
| Wichita Falls | | policy without any fees or penalties if | | |
| Greensboro | | you act within this time period. | | Agency Contract (or Agreement): The |
| Fall River | | | | document which establishes the legal |
| Dallas | | People who are trying to quit | | relationship between an agent and an |
| Newport Beach | | smoking, for example, might be best | | insurer. |
| Fort Wayne | | suited purchasing a shorter term (and | | |
| Fort Wayne | | then replacing it with a longer term | | Level Commission System: A system |
| Pompano Beach | | policy when they qualify for | | of commissions in which the first year |
| Boca Raton | | non-tobacco prices). | | and all renewal commissions are the |
| Salem | | | | same percentage of the premium. |
| Delray Beach | | If you have noticed that your auto | | |
| Sioux Falls | | insurance rates are still increasing | | Substandard Risk: A risk not |
| Dubuque | | with each renewal, or even have not | | measuring up to underwriting |
| North Hollywood | | gone down even though you have a | | standards. It may still be written but |
| Zanesville | | great driving record, this lower pricing | | usually at a surcharged premium. |
| Bayside | | trend makes it more important then | | |
| Nashville | | ever that you shop around for auto | | Absolute Assignment: Assignment by |
| Carlsbad | | insurance. | | a policy owner of all control of and |
| Chesapeake | | | | rights in the policy to a third party. |
| Cranston | | Make sure you have a new policy in | | |
| Raleigh | | place before you cancel your old one | | Preferred Risk: Any risk considered |
| Lowell | | to avoid a lapse in coverage. This will | | to be better than the standard risk on |
| Dayton | | also prevent having to figure out the | | which the premium rate was |
| Akron | | amount of any unused premium that is | | calculated. |
| Alameda | | due to you from your old insurance | | |
| Athens | | company, or having to spar with your | | Gain and Loss Exhibit: The portion of |
| Lubbock | | agent about exactly when your policy | | the convention blank which |
| Metairie | | was cancelled and how much they | | represents an analysis of gains, |
| Fremont | | owe you. | | losses, and surplus during an |
| Fayetteville | | | | accounting period. |
