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Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Policy
Written contract of insurance.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Salvage
Property taken over by an insurer to reduce its loss.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Broker
A person who for payment of a fee procures insurance on your behalf.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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