|
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Broker
A person who for payment of a fee procures insurance on your behalf.
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.
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
Towing & Labor Coverage
Pays for towing charges when your car can’t be driven. Also pays labor charges, such as changing a flat tire, at the place where your car broke down.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
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.
|
Did You Know?