Does Car Insurance Include Water Damage Coverage?
1 Answers
Car insurance does not include water damage coverage. Below is relevant information about vehicle insurance: 1. Introduction: Vehicle insurance, also known as motor vehicle insurance or auto insurance, refers to a type of commercial insurance that covers personal injuries or property damage caused by natural disasters or accidents involving motor vehicles. Auto insurance is a category of property insurance, and within the field of property insurance, auto insurance is a relatively young type of coverage, as it emerged and developed alongside the advent and popularization of automobiles. Unlike modern motor vehicle insurance, early auto insurance primarily focused on third-party liability coverage and gradually expanded to include risks such as collision damage to the vehicle body. 2. Classification: Commercial insurance is an indefinite value insurance, divided into basic insurance and additional insurance, where additional insurance cannot be purchased independently. Basic insurance includes third-party liability insurance and vehicle loss insurance (comprehensive coverage); additional insurance includes full vehicle theft insurance (theft coverage), onboard liability insurance, no-fault liability insurance, liability insurance for falling cargo, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion loss insurance, newly installed equipment loss insurance, and no-deductible special coverage. Compulsory traffic insurance (i.e., compulsory motor vehicle traffic accident liability insurance) also falls under the broad category of third-party liability insurance. Compulsory traffic insurance is mandatory, and motor vehicles must purchase it to be allowed on the road, undergo annual inspections, and be registered. In the event of third-party losses requiring claims, compulsory traffic insurance must be paid out first before other types of insurance.
