Does Vehicle Damage Insurance Cover Daily Repairs?
1 Answers
Vehicle Damage Insurance provides full coverage. After the 2020 auto insurance reform, the insurance liability without deductible was incorporated into Vehicle Damage Insurance, enabling 100% compensation with no deductible. However, policyholders can also opt for an additional absolute deductible rate clause, where the insurer deducts a certain deductible from the agreed claim amount after an accident. By adding the absolute deductible, the compensation is reduced, resulting in slightly lower premiums for Vehicle Damage Insurance. Coverage of Vehicle Damage Insurance: The insured vehicle sustains damage due to collision or overturning during use. (Collision refers to direct contact between the insured vehicle and external objects; intentional scratches on the insured vehicle are not covered under Vehicle Damage Insurance. Overturning means the insured vehicle flips over due to natural disasters or accidents, losing its normal condition and driving capability, and cannot be restored to driving without rescue efforts.) Compensation Amount of Vehicle Damage Insurance: Since the compensation under Vehicle Damage Insurance depends on the extent of the vehicle's damage, there is no uniform standard for the compensation amount.