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Broker
A person who for payment of a fee procures insurance on your behalf.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
Salvage
Property taken over by an insurer to reduce its loss.
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.
Insurer
The insurance company providing the insurance.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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Did You Know?