How Long Does It Take for Vehicle Insurance to Take Effect?
1 Answers
Vehicle insurance includes compulsory traffic insurance and commercial insurance. Generally, compulsory traffic insurance takes effect immediately on the day of purchase, while commercial insurance takes effect at midnight the next day after purchase. Vehicle Insurance: Also known as motor vehicle insurance or auto insurance, it refers to a type of commercial insurance that covers liability for personal injury, death, or property damage caused by natural disasters or accidents involving motor vehicles. Insurance Coverage Period: The coverage period for vehicle insurance is generally one year. If renewing, the insurance can be renewed up to one month before the policy expires. While there is ample time, vehicle owners should plan their schedules in advance.