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Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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).
Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.
Vehicle ID No. (VIN)
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.
Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Summons
Document or writ directing the sheriff or other officer to notify a person that an action has been commenced against him in court and that he is required to appear, on a certain day, and answer the complaint in such action.
Premium Finance Company
A lending institution that finances insurance premiums for a fee.
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