Annual Policy


Definition of "Annual policy"

Contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company or the insured. The policy need not be paid for on an annual basis.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Terminal Dividend

Additional policy dividend paid to a life insurance policyholder when a policy terminates. A mutual insurance company is owned by its policyholders an ...

Transit Insurance

Inland marine policy that protects an insured against loss for property that is shipped. One policy may be written for a single shipment, as for a fam ...

Short Rate, Short Term Insurance

Coverage for less than one year. Insurers generally charge higher rates for short-term policies than for longer term insurance, such as an annual poli ...

Annual Insurance Policy

Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed ...

Nonrenewal Clause

Provision in a policy that states the circumstances under which an insurer may elect not to renew the policy. ...

National Safety Council

Nonprofit organization of members of various industries nationwide that collects and publishes information and statistics on accidents. The council wa ...

Popular Real Estate FAQ

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add real estate terms app
on your Website

Real Estate Advice

Short-term Lease Pros and Cons Spring Landscaping Ideas to Improve Curb Appeal and Sell Your House DIY Home Improvement to Increase Your Home Value Moving Tips: House Relocation Stress Free Increase Your Home Value With These Home Improvement Ideas

FAQ

What is a basic policy? What is escrow? What is an inspection? What is a Good Faith Estimate? What is a debt-to-income ratio?