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Today's Terms
Flood Damage Title
Definition:
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Vehicle ID No. (VIN)
Definition:
This 17 character number is unique to each vehicle. It identifies characteristics of the vehicle, including manufacturer, year, model, body, engine specifications, and serial number.
Subrogation
Definition:
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
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