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Today's Terms
Exclusion
Definition:
A contractual provision in an insurance policy that denies coverage for certain perils, persons, property, or locations.
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.
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