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Comparative Negligence
The percentage of fault shared by each driver in an accident in which both contribute to causing the collision.
Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.
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.
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.
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.
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.
Insurer
The insurance company providing the insurance.
Quote
An estimate of the cost of insurance based on information supplied to the insurance company.
Producer
A term applied to an agent, solicitor or other person who sells insurance.
Commission
That portion of the premium paid to the agent as compensation for his or her services.
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