Does Insurance Cover Water Damage to Cars Caused by Heavy Rain?

[BriellaAnn]

If a car is submerged in water due to rain, the insurance company will compensate, but the payout will depend on whether the policyholder's insurance was purchased before or after the auto insurance reform. Introduction to Insurance: Insurance, known as "bǎoxiǎn" in Chinese (pinyin: bǎoxiǎn) and "Insurance" or "insuraunce" in English, originally means reliable and secure protection. It has since evolved into a safeguard mechanism, a tool for financial planning in life, a fundamental method of risk management under market economy conditions, and a crucial pillar of the financial system and social security system. Content of Insurance: Insurance refers to a commercial insurance activity where the policyholder, according to the contract agreement, pays premiums to the insurer. The insurer then assumes the responsibility to compensate for property losses caused by accidents specified in the contract, or to pay insurance benefits when the insured dies, becomes disabled, contracts an illness, or meets other conditions such as age or duration as stipulated in the contract.