|
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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.
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.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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.
Cancellation
The termination of an insurance policy before its normal expiration date.
Negligence
The absence of ordinary care.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
|
Did You Know?