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Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Premium
The money paid for an insurance policy based upon the coverage provided.
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.
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.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Negligence
The absence of ordinary care.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
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.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
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