The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Driver Improvement Course

Defensive driving education for older drivers that may result in a discount on premiums upon completion. Can also refer to courses imposed on habitual traffic offenders.

Defensive Driver Course

A program of study that teaches safe driving techniques to drivers. Participants may be eligible for discounted premiums on their car insurance.

Continuously Insured

An insured person who has had no time period during which he or she was uninsured since first taking out an auto insurance policy.

Comprehensive Coverage

The most common form of optional auto insurance coverage, alongside Collision, covering damage that is the result of non-collision factors, such weather and theft.

Collision Coverage

Along with Comprehensive, the most common form of optional auto insurance coverage. Collision Coverage covers the cost (minus a deductible) of repairing damage to a vehicle when the insured driver is at

Car Insurance

A policy of insurance protecting an owner and driver against losses associated with the use and operation of a motor vehicle.

Cancellation

When an insurance policy is terminated prior to the renewal date. Either the insurer or the insured can cancel a policy.

Bodily Injury Liability Coverage

A type of auto insurance coverage wherein the insurer will cover the cost of bodily harm caused by the policyholder deemed at fault in an accident.

Blue Book

A shortened name for the “Kelley Blue Book,” which publishes the values of used vehicles.

Benchmark Rate

A government-set auto insurance rate used in Canada. An insurance company that sets its rates within a certain range of the benchmark rate does not need government approval to use those rates.

At Fault

Regarding auto insurance, a driver whose conduct is held legally responsible for causing an accident.

Anti-Theft Device

A range of technologies intended to deter auto theft, such as a car alarm. Equipping vehicles with anti-theft devices often lead to a discount on insurance premiums.

Anti-Lock Brake System (ABS)

The onboard system controlled by a vehicle’s computer that assists the manual braking system, helping a driver safely stop or slow a vehicle without skidding or losing control.

Agreed Value

Concerning auto insurance, the amount the policyholder and the insurance company decide will be paid in the event of an accident that results in a total loss of the insured vehicle.

Agreed Cost

Regarding auto insurance, the price agreed to by the claimant’s chosen auto repair shop and the insurance adjuster to complete the work necessary to fix the damage to a vehicle.

Additional Interest Insured

Concerning auto insurance, a party, such as a lienholder, who does not necessarily use the vehicle, but may nonetheless be named as an Additional Interest Insured and held liable for an accident involving

Accident Forgiveness

A form of optional auto insurance coverage wherein the insurer waves its right to increase the rate of the policyholder at fault of an accident.

Diction

Diction can refer to either the words and phrases a person or organization uses through speech or in written materials, or to a person’s enunciation style in oral discourse. While diction can

What Is Night Trading

Night trading is the buying and selling of stocks, commodities and currencies during those hours when the stock markets are closed. For example, the NYSE and the NASDAQ are open for day

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.