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Today's Terms
Cancellation
Definition:
The termination of an insurance policy before its normal expiration date.
Flood Damage Title
Definition:
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Junk Title
Definition:
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
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