Insurance Lesson

Lapse

A lapse is when a policy stops and has a gap in coverage. A lapse can be a little as one day and can have impact on your license or mortgage depending on the type of policy and situation.

Lesson Script

What This Video Covers

A lapse is when a policy stops and has a gap in coverage. A lapse can be a little as one day and can have impact on your license or mortgage depending on the type of policy and situation.
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Audit

An audit reviews actual exposures such as payroll, sales, or vehicles to determine final premium.