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Dismantled Title
The vehicle sustained major damage to one or more major component parts and the cost of repairing the vehicle for safe operation exceeds its fair market value.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
Negligence
The absence of ordinary care.
Salvage
Property taken over by an insurer to reduce its loss.
Premium
The money paid for an insurance policy based upon the coverage provided.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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