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Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Premium
The money paid for an insurance policy based upon the coverage provided.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
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.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
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.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Salvage
Property taken over by an insurer to reduce its loss.
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