|
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Broker
A person who for payment of a fee procures insurance on your behalf.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Negligence
The absence of ordinary care.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
|
Did You Know?