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Broker
A person who for payment of a fee procures insurance on your behalf.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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.
Cancellation
The termination of an insurance policy before its normal expiration date.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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.
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