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Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
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.
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.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
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