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Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
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.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Salvage
Property taken over by an insurer to reduce its loss.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
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.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
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