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Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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).
Towing & Labor Coverage
Pays for towing charges when your car can’t be driven. Also pays labor charges, such as changing a flat tire, at the place where your car broke down.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Limited Tort
Offers savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses, however you are not able to recover non-monetary damages or receive payments for pain and suffering unless injuries are defined as serious.
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.
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