Accident Terms and Definitions

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.

Producer
A term applied to an agent, solicitor or other person who sells insurance.

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

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.

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

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

Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.

Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.

Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.

Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.