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Premium
The money paid for an insurance policy based upon the coverage provided.
Salvage
Property taken over by an insurer to reduce its loss.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Venue
The specific county, city or geographical area in which a court has jurisdiction
Insurer
The insurance company providing the insurance.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Policy
Written contract of insurance.
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.
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