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Salvage
Property taken over by an insurer to reduce its loss.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Towing & Labor Coverage
Pays for towing charges when your car can’t be driven. Also pays labor charges, such as changing a flat tire, at the place where your car broke down.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
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