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Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
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.
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.
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.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
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