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Premium
The money paid for an insurance policy based upon the coverage provided.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Limited Tort
Offers savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses, however you are not able to recover non-monetary damages or receive payments for pain and suffering unless injuries are defined as serious.
Negligence
The absence of ordinary care.
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