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Broker
A person who for payment of a fee procures insurance on your behalf.
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.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Insurer
The insurance company providing the insurance.
Subrogation
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Venue
The specific county, city or geographical area in which a court has jurisdiction
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.
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