|
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
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.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Insurer
The insurance company providing the insurance.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
|
Did You Know?