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Producer
A term applied to an agent, solicitor or other person who sells insurance.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Policy
Written contract of insurance.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Negligence
The absence of ordinary care.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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).
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