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Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Cancellation
The termination of an insurance policy before its normal expiration date.
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.
Salvage
Property taken over by an insurer to reduce its loss.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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