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Loss Due To Fire Title
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Premium
The money paid for an insurance policy based upon the coverage provided.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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.
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.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Negligence
The absence of ordinary care.
Cancellation
The termination of an insurance policy before its normal expiration date.
Salvage
Property taken over by an insurer to reduce its loss.
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