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Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
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.
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Premium
The money paid for an insurance policy based upon the coverage provided.
Insured
The person(s) entitled to coverage in case of an accident or loss.
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