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Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
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.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Salvage
Property taken over by an insurer to reduce its loss.
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