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Cancellation
The termination of an insurance policy before its normal expiration date.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
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.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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