|
Policy
Written contract of insurance.
Premium
The money paid for an insurance policy based upon the coverage provided.
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.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
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.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
|
Did You Know?