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Total Loss
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
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).
Replacement Cost
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Misdemeanor
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
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