Accident Terms and Definitions

Premium
The money paid for an insurance policy based upon the coverage provided.

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.

Quote
An estimate of the cost of insurance based on information supplied to the insurance company.

Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.

Scrapped
Vehicles that have been dismantled and/or crushed and should not return to the road.

Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.

Insurer
The insurance company providing the insurance.

Salvage
Property taken over by an insurer to reduce its loss.

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.

Commission
That portion of the premium paid to the agent as compensation for his or her services.