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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.
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
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.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Broker
A person who for payment of a fee procures insurance on your behalf.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Insurer
The insurance company providing the insurance.
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