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Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
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.
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.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Broker
A person who for payment of a fee procures insurance on your behalf.
Premium
The money paid for an insurance policy based upon the coverage provided.
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).
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