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Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
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.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
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.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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