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| Atlanta | | If you decide to cancel your policy | | Brokerage Department: A department |
| Richmond | | (after acquiring new coverage) | | of an insurer whose purpose is to |
| Irving | | outside of the 30-day period, you may | | deal with brokers in the placing of |
| Madison | | have to pay a fee or penalty. | | insurance. |
| Olympia | | However, you may still save money | | |
| Sioux Falls | | after paying the fee if your new policy | | Insolvent Insurer: An insurer which is |
| Augusta | | affords you significant savings. So | | unable to meet its financial |
| Downey | | while it is best to wait until your | | obligations. |
| Montgomery | | receive your renewal notice, you CAN | | |
| Warwick | | cancel your policy at any time. | | Equity: The money value of an |
| Boulder | | | | insurance company that is over and |
| Malden | | Make sure you have a new policy in | | above its liabilities. Liabilities include |
| Gaithersburg | | place before you cancel your old one | | almost all of its reserves. |
| Council Bluffs | | to avoid a lapse in coverage. This will | | |
| Spring Hill | | also prevent having to figure out the | | Lloyd's Broker: A person who has the |
| Littleton | | amount of any unused premium that is | | authority to negotiate insurance |
| Scottsdale | | due to you from your old insurance | | contracts with the underwriters on the |
| Berkeley | | company, or having to spar with your | | floor at Lloyd's. |
| Eugene | | agent about exactly when your policy | | |
| White Plains | | was cancelled and how much they | | Overlapping Insurance: Coverage |
| Gaithersburg | | owe you. | | from two or more policies or insurers |
| Lexington | | | | which duplicates coverage of certain |
| South Bend | | Individuals who have 30-year | | risks. |
| Panama City | | mortgages might want to consider a | | |
| Tucson | | 30-year term to ensure that the house | | Liquidity: The ability of an insurer to |
| Warwick | | is protected throughout the period of | | convert its assets into cash to pay |
| Asheville | | the loan. | | claims if necessary. |
