Accident Terms and Definitions

Quote
An estimate of the cost of insurance based on information supplied to the insurance company.

Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.

Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.

Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.

Cancellation
The termination of an insurance policy before its normal expiration date.

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

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

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

Insurer
The insurance company providing the insurance.

Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.