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Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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.
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Salvage
Property taken over by an insurer to reduce its loss.
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