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Uninsured Motorist Coverage (UMC)
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
Binder
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Subrogation
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Insurer
The insurance company providing the insurance.
Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Negligence
The absence of ordinary care.
Surcharge
An extra charge applied to the premium by the insurer, usually for at fault accidents or moving violations.
Policy
Written contract of insurance.
Broker
A person who for payment of a fee procures insurance on your behalf.
Premium
The money paid for an insurance policy based upon the coverage provided.
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