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Salvage
Property taken over by an insurer to reduce its loss.
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.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Premium
The money paid for an insurance policy based upon the coverage provided.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
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.
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Did You Know?