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Insured
The person(s) entitled to coverage in case of an accident or loss.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Insurer
The insurance company providing the insurance.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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).
Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
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.
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.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Cancellation
The termination of an insurance policy before its normal expiration date.
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