|
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Premium
The money paid for an insurance policy based upon the coverage provided.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
Broker
A person who for payment of a fee procures insurance on your behalf.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
|
Did You Know?