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| Anderson | | While some companies raise their | | Convention Values: Values assigned |
| Lorain | | prices based on your actual age, | | to insurers' assets in the convention |
| Huntington | | most companies increase the price of | | blank. |
| Sarasota | | their policies six months before your | | |
| Tucson | | birthday. Its a term called Age | | Effective Date: The date on which the |
| Spokane | | Nearest in the industry, and that | | protection of an insurance policy or |
| Hollywood | | half-year price increase could really | | bond goes into effect. |
| Newburgh | | add up over a 20-year term policy. As | | |
| Florissant | | above, the quicker you purchase your | | Appraisal: An evaluation of property |
| El Cajon | | policy the better. | | made to ascertain either the |
| Joliet | | | | appropriate amount of insurance to |
| Schaumburg | | If you have noticed that your auto | | be written or the amount of loss to be |
| Coral Springs | | insurance rates are still increasing | | paid. |
| Schaumburg | | with each renewal, or even have not | | |
| Chattanooga | | gone down even though you have a | | Partial Loss: A loss covered by an |
| Asheville | | great driving record, this lower pricing | | insurance policy which does not |
| Anderson | | trend makes it more important then | | completely destroy or render |
| Johnstown | | ever that you shop around for auto | | worthless the insured property. |
| Sterling Heights | | insurance. | | |
| Salem | | | | Calendar Year Experience: This |
| Lexington | | Healthy people have the best | | measures the premiums and losses |
| Las Vegas | | mortality risks and thus are much | | entered on accounting records during |
| Spokane | | cheaper for companies to insure. This | | the 12-month calendar. |
| Bethlehem | | translates into lower rates for the | | |
| Charlotte | | Super Preferred customer than | | Incurred Expense: Expenses not yet |
| Gaithersburg | | someone with higher risk factors such | | paid. Can also include paid |
| Alameda | | as a heart condition, cancer or | | expenses in some accounting |
| Las Cruces | | diabetes. Conversely, if you were | | systems. |
| Knoxville | | unhealthy when you acquired your | | |
| Buffalo | | policy, and your health has now | | Agency Contract (or Agreement): The |
| San Antonio | | improved, it might be time to shop for | | document which establishes the legal |
| Longwood | | a new policy, as your rates are likely | | relationship between an agent and an |
| High Point | | to be lower. | | insurer. |
