Non-Renewal
A decision by an insurer to stop providing insurance coverage on the date a policy is due to be renewed.
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A decision by an insurer to stop providing insurance coverage on the date a policy is due to be renewed.
Insurance coverage that is offered to an individual who is not the owner of the insured vehicle.
An insurance policy that provides coverage only when the driver of the vehicle is listed as a Named Driver.
A named driver not covered under a car owner’s liability insurance. See Excluded Driver.
A premium discount offered by some insurance companies if the policyholder insures more than one vehicle with them.
An amount set by the no-fault laws in some states that must be met before a lawsuit for damages may be commenced against an at-fault driver in an accident.
Coverage that pays for some of the medical and funeral expenses incurred by an insured individual as the result of an accident.
Also called Gap Insurance, Loan/Lease Payoff Coverage covers the difference between how much an insurer will pay on a lost, stolen, or totalled vehicle, and how much the insured person still owes
Members of the same household who do not drive an insured vehicle.
A bank, person, or other entity having a financial interest (such as a loan) in a vehicle.
Acquiring a vehicle from a dealer or leasing company under a contract, requiring the lessee to pay periodic payments for a specified period of time.
When an insurance policy is terminated or cancelled, and a replacement policy has not been obtained.
The proof required in some states and issued by an insurance company that indicates a vehicle is insured. The cards are kept in the vehicle to show to police or other motorists in
When a motorist involved in an accident flees the scene.
The place where a car is usually stored, such as a home’s garage, when it is not in use.
Also called Loan/Lease Payoff Coverage, Gap Insurance covers the difference between how much an insurer will pay on a lost, stolen, or totalled vehicle, and how much the insured person still owes
When two or more vehicles are involved in a low-impact collision with minimal damage.
The name given to laws requiring motorists to obtain insurance coverage on vehicles driven on state roads.
If an insured person pays for a policy in advance, the “earned” premium is the portion of the policy that has already been used.
A motorist’s history of moving violations and accidents kept by the department of motor vehicles in each state. See, How to Check Your Driving Record: A State-by-State Guide