|
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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.
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.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
|
Did You Know?