This is the company providing the car insurance.
This is the person who has the insurance policy. An insured person may include the entire family or it may include some people in portions of the policy but not under all portions.
3Insurance or Claims Adjuster
This is the person who will handle the claim after a car accident. They must meet state requirements and work for the insurance company.
This term includes the filing of a lawsuit, which may mean negotiating and possibly going to trial. It covers everything from the initial filing to the process of preparing for court to the actual trial.
This term refers to the person responsible for the accident. The insurance company wants to find out who was at fault to determine if a claim is to be approved or denied.
Liability means the person responsible for the accident and therefore, any damage that results.
7Comparative or Contributory Negligence
This term infers that more than one person caused the accident. While one person may be primarily responsible, others may have played a part in causing the collision.
A person who did not do what they should when the accident occurred would be considered negligent. This may mean something as simple as a failure to use a signal light when making a turn. Negligence per se is a more serious form of negligence and usually means the person was breaking the law, such as speeding.
This term means the payment from the responsible party to the person who was injured or had damages. When a claim is settled, it means both parties agree to the payment.
10Burden of Proof
This phrase means that each person must be able to prove who was at fault or had liability for the accident. If you are suing someone for damages incurred in a car wreck, you must have evidence that the other party was responsible.
11Actual Cash Value
This is the market value of the vehicle that was involved in the accident. It is the amount of money you would receive if you sold your vehicle.
This means that the damages to your vehicle cost more than the value or a certain percentage of the value, which makes it not worthwhile to repair. When a car is deemed a total loss, the insurance company pays the value of the vehicle rather than the cost of repairs.
This term relates to the damage done to the vehicle in a car wreck, or it may mean the pain and suffering of a victim or other costs to the person. It often refers to the amount of money awarded in a claim.
When a car insurance company paid for medical costs even when the person was not to blame for the accident, they will attempt to get reimbursed by the responsible party. This is called subrogation.
If a person does not have car insurance, they are uninsured. If the cost of medical care and/or liability is more than the amount of insurance the person has, they are said to be underinsured.