|
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Insurer
The insurance company providing the insurance.
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.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
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.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
|
Did You Know?