|
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Policy
Written contract of insurance.
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.
Salvage
Property taken over by an insurer to reduce its loss.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
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.
|
Did You Know?