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Today's Terms
Quote
Definition:
An estimate of the cost of insurance based on information supplied to the insurance company.
Replacement Cost
Definition:
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Uninsured Motorist Coverage (UMC)
Definition:
Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance.
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