Accident Terms and Definitions

Cancellation
The termination of an insurance policy before its normal expiration date.

Commissioner of Insurance
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.

Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.

Witness
Person who testifies under oath before a court, regarding what he/she has seen, heard or otherwise observed.

Insurer
The insurance company providing the insurance.

Policy
Written contract of insurance.

Deductible
The amount of the loss which the insured is responsible to pay before benefits from the insurance policy are payable.

Commission
That portion of the premium paid to the agent as compensation for his or her services.

Subpoena
Document issued by the authority of the court to compel a witness to appear and give testimony or produce documentary evidence in a proceeding. Failure to appear or produce is punishable by contempt of court.

Gap Insurance
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.