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Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Salvage
Property taken over by an insurer to reduce its loss.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
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