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Premium
The money paid for an insurance policy based upon the coverage provided.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
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.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Loss Due To Fire Title
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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