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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.
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.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Insurer
The insurance company providing the insurance.
Negligence
The absence of ordinary care.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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