Can Vehicle Damage Insurance Be Purchased Mid-Term?

[DeNathan]

Vehicle damage insurance can be purchased mid-term, with the following explanations: 1. Reason: Vehicle damage insurance is a type of commercial insurance, and car owners can purchase it at any time if they wish. Vehicle damage insurance refers to compensation provided by the insurance company when the vehicle is damaged due to natural disasters or accidents, covering incidents such as fire, hail, floods, collisions, avalanches, mudslides, landslides, ground collapses, falling external objects, explosions, etc. 2. Legal Basis: The 'Motor Vehicle Damage Insurance Clause' has corresponding provisions: Unless otherwise agreed, the insurance period of this contract is one year. If the insurance period is less than one year, the premium shall be calculated according to the short-term monthly rate approved by the insurance regulatory authority. The insured shall provide the insurance company with the insurance policy, the driver's license, the insurance vehicle's driving license, accident certificates, traffic accident determination documents, loss lists, and other proofs and materials related to confirming the nature, cause, and extent of the insurance accident.