|
Premium
The money paid for an insurance policy based upon the coverage provided.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Broker
A person who for payment of a fee procures insurance on your behalf.
|
Did You Know?