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Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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).
Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
Cancellation
The termination of an insurance policy before its normal expiration date.
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.
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.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Broker
A person who for payment of a fee procures insurance on your behalf.
Venue
The specific county, city or geographical area in which a court has jurisdiction
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