GLOSSARY
These definitions are from the repairers’ industry, hands-on day to day experience and not to be utilized as legal definitions.*
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- Labor Rates
- Liability
- Liability Coverage
- Lien holder
- Limits of Liability
- LKQ
- Loss of Use
- Loss Payee
- Low-balling
* Disclaimer
Definitions listed within the Guild’s Glossary are to be understood from the perspective of those working within the collision repair industry and interpreted as helping consumers grasp the true meaning of being indemnified through the collision repair process. Our purpose is to explain how these terms can affect the outcome of your automobile repairs in the eyes of your repair service when confronted with a third party whose objective is focused on cost suppression. An educated consumer is our very best customer and the goal is to safeguard our readers. Please do not except these glossary explanations as legal context. We are not attorneys and do not offer legal advice. Our sole purpose is to provide an understanding of how your collision repair service may relate to a particular issue during the repair process.