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Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Cancellation
The termination of an insurance policy before its normal expiration date.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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