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Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
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.
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.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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