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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.
Nonrenewal
The termination of an insurance policy at its normal expiration date.
Full Tort
With this selection you retain unrestricted rights to bring suit against the negligent party.
Private Passenger Automobile
Four-wheeled motor vehicles of the private passenger, station wagon, or van type. Private passenger automobiles are designed for use on public highways and subject to motor vehicle registration.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
Broker
A person who for payment of a fee procures insurance on your behalf.
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.
Insurer
The insurance company providing the insurance.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
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