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Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Salvage
Property taken over by an insurer to reduce its loss.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Broker
A person who for payment of a fee procures insurance on your behalf.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
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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