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Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Underinsured Motorist Coverage
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Cancellation
The termination of an insurance policy before its normal expiration date.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
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