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Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
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.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
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.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
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