Insurance Basics 1
This is the contract between you and the insurance company.
What is an insurance policy?
This 17-digit number provides important information about a vehicle.
- What is a VIN (Vehicle Identification Number)?
These initials describe parts made by the original vehicle manufacturer.
- What is OEM?
This abbreviation means to remove and install a part.
- What is R&I?
This term means to fade the paint color into adjacent panels.
- What is blend?
This number uniquely identifies your insurance policy.
What is a policy number?
This term describes the appearance and wear of a vehicle before an accident.
- What is pre-accident condition?
This claim type involves damage from hitting another vehicle or object.
- What is a collision claim?
This term describes the process of painting a car part.
- What is refinish(Ref)?
This term describes parts made by companies other than the original manufacturer.
What is aftermarket?
This is the portion of the repair cost that the insured is responsible for paying.
- What is a deductible?
When another person's insurance pays for damage to your vehicle, it's called this.
- What is a liability claim?
This process involves removing and reassembling an entire component, like a bumper.
- What is overhaul(O/H)?
This describes parts that have been restored to like-new condition.
- What is reconditioned or remanufactured?
This person pays for and is covered by an insurance policy.
- Who is the insured?
This occurs when repair costs exceed the vehicle's value.
- What is a total loss?
This term describes the process of using your insurance to pay for damages.
- What is a claim?
This abbreviation describes used parts taken from salvaged vehicles.
- What is LKQ?
This person prepares estimates at a shop or insurance company.
- Who is an estimator?
This describes parts that have been restored to like-new condition.
- What is reconditioned or remanufactured?
This type of claim covers damage from vandalism or weather events.
- What is a comprehensive claim?
This refers to additional damage found after the initial estimate.
- What is a supplement?
This term describes the process of using your insurance to pay for damages.
- What is a claim?
This insurance company employee handles claims and coordinates repairs.
- Who is an adjuster?
This describes work done by a third party that the shop pays for directly.
- What is sublet?