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Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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.
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.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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