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Today's Terms
Misdemeanor
Definition:
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
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.
Claim
Definition:
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
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