|
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Premium
The money paid for an insurance policy based upon the coverage provided.
Cancellation
The termination of an insurance policy before its normal expiration date.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
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.
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.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
|
Did You Know?