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Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Limited Tort
Offers savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses, however you are not able to recover non-monetary damages or receive payments for pain and suffering unless injuries are defined as serious.
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.
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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