|
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Salvage
Property taken over by an insurer to reduce its loss.
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.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
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.
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.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
|
Did You Know?