|
Towing & Labor Coverage
Pays for towing charges when your car can’t be driven. Also pays labor charges, such as changing a flat tire, at the place where your car broke down.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Premium
The money paid for an insurance policy based upon the coverage provided.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Negligence
The absence of ordinary care.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
|
Did You Know?