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Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Subrogation
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
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.
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