INSURNACE TERMINOLOGY
PREFERRED, SELECT OR DRP SHOP
These are body shops that have a contractual obligation to an insurance company. This contract guarantees the body shop that a select amount of work will be done for the insurance company in exchange for concessions on how the shop repairs your vehicle.
STEERING
Parts that were engineered and made by the original manufacturer, with manufacturer specific materials, designs and tolerances.
OEM PARTS
Parts that were engineered and made by the original manufacturer, with manufacturer specific materials, designs and tolerances.
AFTERMARKET PARTS
Vehicle parts intended to imitate the original parts, but are not built by the original manufacturer and vary in engineering, material quality, and design.
DEDUCTIBLE
The specified amount of money an insured customer must pay before the insurance company will pay on a claim.
SUPPLEMENT
Additional goods or services charges that were not on the original estimate due to further damage found, parts, or services needed for repair. These are typically filed with the insurance company and require a submission of photos, invoices, and other documentation.
CLAIMANT
The person making a claim for loss of damage with an insurance company.
THIRD PARTY CLAIMANT
A person making a claim for the loss of damage against another responsible party or their insurance.
DIMINISHED VALUE
The value of the vehicle lost by being in an accident.