|
Negligence
The absence of ordinary care.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
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.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
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.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
|
Did You Know?