Insurance from SOL Insurance Agency Fast auto insurance quotes for
Miami, Fl residents. Low cost Florida insurance online.
Andy's Assurance Agency
1441 Southwest Flagler Terrace, Miami, FL 33135-2283
Immigration Bonds National bonding firm
offering U.S. immigration alien Deport & Visa bonds. INS bond for visa over
stays, illegal entry, deportation permits.
Actual Cash Value (ACV) - The value of your property, based on the current
cost to replace it minus depreciation.
Bodily Injury (BI) - Physical injury to a person.
Collision Coverage - Pays for damage to your car without regard to who
caused an accident. The company must pay for the repair or up to the
actual cash value of your vehicle, minus your deductible.
Comprehensive Coverage (Physical Damage Other than Collision) - Pays for
damage to or loss of your automobile from causes other than accidents.
These include hail, vandalism, flood, fire, and theft.
Declarations Page - - The page in your policy that shows the name and
address of the insurer, the period of time a policy is in force, a
description of the vehicle, the amount of the premium, and the amount of
Deductible - The amount the insured must pay in a loss before any payment
is due from the company.
Depreciation - The act of lowering an item´s value due to use or wear and
Expiration Date - The date on which an insurance policy expires.
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.
Grace Period(s) - The time - usually 31 days - during which a policy
remains in force after the premium is due but not paid. The policy lapses
as of the day the premium was originally due unless the premium is paid
before the end of the 31 days or the insured dies. This is not a
Incontestability - A provision that places a time limit - up to two years
- on a company´s right to deny payment of a claim because of suicide or a
material misrepresentation on your application.
Independent Adjuster - A person who charges a fee to the insurance company
to adjust the company´s claim.
Lapse - Termination of a policy due to non-payment of premiums.
Liability - Responsibility to another for one´s negligence.
Liability Insurance - Pays for injuries to the other party and damages to
the other vehicle resulting from an accident you caused. It also pays if
the accident was caused by someone covered by your policy, including a
driver operating your car with your permission.
Liability Limits - The maximum amount your liability policy will pay. Your
auto policy must pay at least $20,000 per person for injuries and deaths,
up to $40,000 for all victims of an accident, plus $15,000 for property
damage. You can purchase higher auto liability limits for additional
Named Driver Exclusion - An endorsement that provides that an automobile
policy does not cover accidents when a specifically named person is the
driver. This is typically done when there are other drivers living the
household that are insured on another auto policy or to exclude young
drivers from driving a particular vehicle.
Named Driver Policy - A policy that covers only the drivers specifically
named in the policy. Generally, all other drivers are excluded from
coverage under the policy. This type of policy is usually written by
surplus lines companies.
Policy - The contract issued by the insurance company to the insured.
Premium - The amount paid by an insured to an insurance company to obtain
or maintain an insurance policy.
Public Adjuster - A person hired by you to settle the claim with the
insurance company to settle the claim on your behalf.
Reinstatement - The process by which a life insurance company puts back in
force a policy which had lapsed because of nonpayment of renewal premiums.
Renewal Policy - A policy issued as a renewal of a policy expiring in the
same company or agency; not new business.
Rental Reimbursement Coverage - Pays a set daily amount for a rental car
if your car is being repaired because of damage covered by your auto
Replacement Cost - The cost associated with replacing property at current
Third Party Loss - A situation involving a person other than the insurer
and insured; i.e., a person making a liability claim against the insured.
Towing and Labor Coverage - Pays for towing charges when your car can´t be
driven. Also pays labor charges, such as changing a flat tire, at the
place where your car broke down.
Underwriter - The person who reviews an application for insurance and
decides if the applicant is acceptable and at what premium rate.
Uninsured/Underinsured Motorist (UM/UIM) Coverage - Pays for your injuries
and property damage caused by a hit-and-run driver or a motorist without
liability insurance. It will also pay when your medical and car repair
bills are higher than the other driver´s liability coverage.
We are open 24 hours 7 days a week
help you today!
Have a Question? Not sure what to do? -
Call For Advice !
Western Union Available