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Salvage
Property taken over by an insurer to reduce its loss.
Cancellation
The termination of an insurance policy before its normal expiration date.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Insurer
The insurance company providing the insurance.
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