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Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Premium
The money paid for an insurance policy based upon the coverage provided.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Towing & Labor Coverage
Pays for towing charges when your car can’t be driven. Also pays labor charges, such as changing a flat tire, at the place where your car broke down.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
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