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Commission
That portion of the premium paid to the agent as compensation for his or her services.
Collision
Pays for damage to your car caused by a collision with another vehicle or with any other object, regardless who was at fault.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Broker
A person who for payment of a fee procures insurance on your behalf.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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).
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
Policy
Written contract of insurance.
Exclusion
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
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