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Insurer
The insurance company providing the insurance.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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.
Negligence
The absence of ordinary care.
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.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Cancellation
The termination of an insurance policy before its normal expiration date.
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