Accident Terms and Definitions

Policy
Written contract of insurance.

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.

Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.

Broker
A person who for payment of a fee procures insurance on your behalf.

Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.

Salvage
Property taken over by an insurer to reduce its loss.

Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.

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.

Premium
The money paid for an insurance policy based upon the coverage provided.

Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).