|
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Broker
A person who for payment of a fee procures insurance on your behalf.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Policy
Written contract of insurance.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
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.
Cancellation
The termination of an insurance policy before its normal expiration date.
|
Did You Know?