|
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Salvage
Property taken over by an insurer to reduce its 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.
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Negligence
The absence of ordinary care.
|
Did You Know?