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Premium
The money paid for an insurance policy based upon the coverage provided.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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.
Venue
The specific county, city or geographical area in which a court has jurisdiction
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.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Salvage
Property taken over by an insurer to reduce its loss.
Insurer
The insurance company providing the insurance.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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