How to Calculate Vehicle Damage Insurance in Auto Insurance?

1 Answers
VanElisa
07/29/25 9:59pm
How to Calculate Vehicle Damage Insurance in Auto Insurance? Vehicle Damage Insurance Premium = Base Premium + Purchase Price × Rate. The following points should be noted for Vehicle Damage Insurance: 1. Insurance Amount: The insurance compensation amount shall not exceed the actual value of the vehicle (including depreciation). 2. Compensation Amount: Compensation is based on the actual loss incurred, not a fixed amount. 3. Coverage Object: Vehicle Damage Insurance only covers the vehicle, not the occupants. Personal accident insurance is not included in Vehicle Damage Insurance. 4. Insurance Cost: Vehicle Damage Insurance is typically the most expensive item in private car insurance.
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