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Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Salvage
Property taken over by an insurer to reduce its loss.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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