|
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Premium
The money paid for an insurance policy based upon the coverage provided.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Insurer
The insurance company providing the insurance.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
|
Did You Know?