Accident Terms and Definitions

Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.

Broker
A person who for payment of a fee procures insurance on your behalf.

Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.

Policy
Written contract of insurance.

Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.

Loss Due To Fire Title
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.

Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.

Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.

Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.

Premium Finance Company
A lending institution that finances insurance premiums for a fee.