|
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.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
|
Did You Know?