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| New York | | Why not take advantage of current | | Burning Ratio: The ratio of losses |
| Coral Springs | | low prices? Many auto insurance | | suffered to the amount of insurance in |
| Cedar Rapids | | consumers are becoming educated | | effect. |
| Portland | | on other companies, plans, and rates | | |
| Warren | | that are available to them; ones that | | Admitted (or Allowed) Assets: Assets |
| Irvine | | could afford them significant savings | | whose values are permitted by state |
| Pueblo | | on their auto insurance. | | law to be included in the annual |
| Bellevue | | | | statement of the insurer. |
| Reading | | While some companies raise their | | |
| Bloomington | | prices based on your actual age, | | Short Rate Premium: The premium |
| Honolulu | | most companies increase the price of | | required for issuing a policy for a |
| Williamsburg | | their policies six months before your | | period less than its normal term. |
| San Diego | | birthday. Its a term called Age | | |
| Manchester | | Nearest in the industry, and that | | FICA. Federal Insurance Contributions |
| Pasadena | | half-year price increase could really | | Act: A law imposing a payroll tax to |
| Bayside | | add up over a 20-year term policy. As | | assist in funding Social Security |
| Birmingham | | above, the quicker you purchase your | | benefits. |
| Rochester | | policy the better. | | |
| Lorain | | | | Initial Premium: An amount paid at the |
| Lake Charles | | Shopping around is the best way to | | inception of an insurance contract, |
| Gainesville | | save money on your insurance. | | usually subject to adjustment at the |
| Palo Alto | | | | end of the policy period. |
| Midland | | Healthy people have the best | | |
| Poughkeepsie | | mortality risks and thus are much | | Effective Date: The date on which the |
| Palo Alto | | cheaper for companies to insure. This | | protection of an insurance policy or |
| Santa Monica | | translates into lower rates for the | | bond goes into effect. |
| Montgomery | | Super Preferred customer than | | |
| Cranston | | someone with higher risk factors such | | Brokerage Business: Business |
| Huntsville | | as a heart condition, cancer or | | offered to an insurer by a broker. This |
| Gainesville | | diabetes. Conversely, if you were | | is sometimes called excess or |
| Fairfax | | unhealthy when you acquired your | | surplus business. |
| Lafayette | | policy, and your health has now | | |
| Anchorage | | improved, it might be time to shop for | | Loss Adjustment Expense: The cost |
| Dayton | | a new policy, as your rates are likely | | of adjusting losses, excluding the |
| Lake Charles | | to be lower. | | amount of the loss itself. |
