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Today's Terms
Private Passenger Automobile
Definition:
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.
Liability Insurance
Definition:
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Subrogation
Definition:
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.
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