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Loss Due To Fire Title
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
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.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Cancellation
The termination of an insurance policy before its normal expiration date.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
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