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Today's Terms
Underinsured Motorist Coverage
Definition:
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Commissioner of Insurance
Definition:
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Loss Due To Fire Title
Definition:
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
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