Accident Terms and Definitions

Nonrenewal
The termination of an insurance policy at its normal expiration date.

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.

Quote
An estimate of the cost of insurance based on information supplied to the insurance company.

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.

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.

Negligence
The absence of ordinary care.

Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.

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.

Insurer
The insurance company providing the insurance.

Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.