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Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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.
Insurer
The insurance company providing the insurance.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Broker
A person who for payment of a fee procures insurance on your behalf.
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