Does it matter if the insured of the car insurance is not the owner?
1 Answers
If the policyholder of the car insurance is not the owner, it does not affect the claims process. The insurance company will specify who the owner is, and the claims process requires the insured's ID card and bank card. All compensation matters are only directed at the vehicle's policyholder. Owners should ensure timely renewal of the insurance upon expiry and avoid duplicate coverage. Even if a duplicate coverage is purchased for a particular insurance type, it will not result in excess compensation in case of a claim. Car insurance includes the following items: Compulsory Traffic Insurance: This is a mandatory insurance type that all vehicle owners must purchase. The only drawback is that the compensation amount is relatively small. Third-Party Liability Insurance: This insurance type serves as a supplement to the compulsory traffic insurance. Both cover compensation for third parties, but in the event of an accident, the compensation will be based on the insured's degree of responsibility. In many traffic accidents, the insurance contract may include some non-deductible clauses, which are the insurer's exemption clauses. Vehicle Damage Insurance: This insurance covers compensation for the loss or damage to your own vehicle, but not all losses are covered. For example, separate damages to glass, exterior rearview mirrors, or tires (including rims) are not covered by the insurance company. Additionally, damages caused by earthquakes, drunk driving, or hit-and-run incidents are also not covered by the insurance company.
