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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).
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Insurer
The insurance company providing the insurance.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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.
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.
Policy
Written contract of insurance.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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