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Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Loss Due To Fire Title
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
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.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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