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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).
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
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