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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.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
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.
Insured
The person(s) entitled to coverage in case of an accident or loss.
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.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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