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Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Broker
A person who for payment of a fee procures insurance on your behalf.
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.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
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.
Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
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