BETTERMENT CHARGE: What you will pay if you choose to use new replacement parts. The charge is the difference in cost between used parts the insurance company has approved and the new parts you want but they won’t cover. BODILY INJURY COVERAGE: Part of liability coverage that pays for physical injuries of any third parties in an accident you cause. BOOK VALUE: Your car’s average sale investment in good condition. BROKER: A person who works with both insurance agents and insurance companies and are not tied to one company. CAPTIVE AGENT: An insurance agent who only represents one company. Also known as an exclusive agent. CLAIM: Official request for insurance reimbursement for damage or loss. CLAIMS ADJUSTER: The person who confirms your loss and figures out how much the insurance company owes you. Also known as an insurance adjuster. COLLISION DAMAGE WAIVER (CDW): Coverage offere d by many rental car and credit card companies.
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