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Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Salvage
Property taken over by an insurer to reduce its loss.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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.
Negligence
The absence of ordinary care.
Venue
The specific county, city or geographical area in which a court has jurisdiction
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.
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.
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