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Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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.
Policy
Written contract of insurance.
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.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Broker
A person who for payment of a fee procures insurance on your behalf.
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.
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.
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