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Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
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.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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.
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