|
Today's Terms
Hearsay
Definition:
Evidence based on what the witness has heard someone else say, rather than what the witness has personally experienced or observed.
Gap Insurance
Definition:
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.
Total Loss
Definition:
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
More Terms >
|
Did You Know?