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Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Cancellation
The termination of an insurance policy before its normal expiration date.
Premium
The money paid for an insurance policy based upon the coverage provided.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
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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