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Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
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.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
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.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
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