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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).
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Cancellation
The termination of an insurance policy before its normal expiration date.
Limited Tort
Offers savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses, however you are not able to recover non-monetary damages or receive payments for pain and suffering unless injuries are defined as serious.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
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