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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.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
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.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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