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Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
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.
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.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Cancellation
The termination of an insurance policy before its normal expiration date.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Salvage
Property taken over by an insurer to reduce its loss.
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