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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.
Comprehensive Coverage
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
Hearsay
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Liability Insurance
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
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.
Premium
The money paid for an insurance policy based upon the coverage provided.
Insured
The person(s) entitled to coverage in case of an accident or loss.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Insurer
The insurance company providing the insurance.
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