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Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Premium
The money paid for an insurance policy based upon the coverage provided.
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.
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.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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