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Commission
That portion of the premium paid to the agent as compensation for his or her services.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Insurer
The insurance company providing the insurance.
Premium
The money paid for an insurance policy based upon the coverage provided.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Cancellation
The termination of an insurance policy before its normal expiration date.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
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