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| Staten Island | | While some companies raise their | | Accident Year Experience: Measures |
| Cherry Hill | | prices based on your actual age, | | premiums and losses relating to |
| Plano | | most companies increase the price of | | accidents which occurred during a |
| Allentown | | their policies six months before your | | 12-month period. |
| Rome | | birthday. Its a term called Age | | |
| Florence | | Nearest in the industry, and that | | Divided Cover: The placing of |
| Harrisburg | | half-year price increase could really | | insurance on a given subject or |
| Cherry Hill | | add up over a 20-year term policy. As | | object with more than one insurer. |
| Cambridge | | above, the quicker you purchase your | | |
| Minneapolis | | policy the better. | | Paid-In Surplus: Surplus paid in by |
| Chattanooga | | | | stockholders, as contrasted with |
| Lowell | | People who are trying to quit | | surplus earned through the |
| Muskegon | | smoking, for example, might be best | | operations of a business. |
| Kansas City | | suited purchasing a shorter term (and | | |
| Lake Worth | | then replacing it with a longer term | | Renewal: The reestablishment of the |
| Springfield | | policy when they qualify for | | in-force status of a policy, the term of |
| Bayside | | non-tobacco prices). | | which has expired or will expire |
| Long Beach | | | | unless it is renewed. |
| Mansfield | | The quickest and easiest way to | | |
| Newburgh | | shop for new insurance is by | | Policy Anniversary: The anniversary |
| West Palm Beach | | comparing rates at InsWebs online | | of the date of issue of a policy as |
| Union | | marketplace. If you do it the | | shown in the policy declarations. |
| Corpus Christi | | old-fashioned way (by calling or | | |
| Bellevue | | visiting multiple agents or insurance | | Liquidity: The ability of an insurer to |
| Racine | | companies) it could take up a huge | | convert its assets into cash to pay |
| Tucson | | chunk of your time, which no one | | claims if necessary. |
| Nashua | | wants or needs. By completing | | |
| Cambridge | | InsWebs online application, you will | | Policy Period (or Term): The period |
| Chula Vista | | have rates to compare to your old | | during which the policy contract |
| Sacramento | | ones within minutes! | | affords protection, e.g., six months or |
| Wichita Falls | | | | one or three years. |
| Fort Smith | | If you decide to cancel your policy | | |
| Milwaukee | | (after acquiring new coverage) | | Net Retention: The amount of |
| Des Moines | | outside of the 30-day period, you may | | insurance that a ceding company |
| Muncie | | have to pay a fee or penalty. | | keeps for its own account and does |
| Metairie | | However, you may still save money | | not reinsure. |
| Phoenix | | after paying the fee if your new policy | | |
| Warwick | | affords you significant savings. So | | |
| Rome | | while it is best to wait until your | | |
| Lawton | | receive your renewal notice, you CAN | | |
| Thousand Oaks | | cancel your policy at any time. | | |
