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Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Negligence
The absence of ordinary care.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Premium
The money paid for an insurance policy based upon the coverage provided.
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.
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