|
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
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.
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.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
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.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
|
Did You Know?