|
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.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Policy
Written contract of insurance.
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.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
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.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
|
Did You Know?