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Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Policy
Written contract of insurance.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
Cancellation
The termination of an insurance policy before its normal expiration date.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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