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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.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
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.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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