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Commission
That portion of the premium paid to the agent as compensation for his or her services.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
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.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Broker
A person who for payment of a fee procures insurance on your behalf.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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