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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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Premium
The money paid for an insurance policy based upon the coverage provided.
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.
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