Accident Terms and Definitions

Insurer
The insurance company providing the insurance.

Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.

Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.

Accident
A collision involving an automobile and anything that causes damage to the automobile, including other automobiles, telephone poles, buildings, and trees.

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

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.

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.

Nonrenewal
The termination of an insurance policy at its normal expiration date.

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.