Is Motor Vehicle Loss Insurance the Same as Auto Damage Insurance?
1 Answers
Motor Vehicle Loss Insurance is the same as Auto Damage Insurance, with the latter being the abbreviated form of the former. Relevant details are as follows: 1. Definition of Motor Vehicle Loss Insurance: It refers to a type of commercial auto insurance where the insurance company compensates within reasonable limits for damages to the insured vehicle caused by an insured accident while the vehicle is being used by the insured or an authorized driver. 2. Coverage of Motor Vehicle Loss Insurance includes: collisions, overturns, and falls; fires and explosions; falling or collapsing external objects; storms and tornadoes; lightning strikes, hailstorms, heavy rain, floods, and tsunamis; ground collapse, ice collapse, cliff collapse, avalanches, mudslides, and landslides; ferries carrying the insured vehicle suffering from natural disasters (limited to cases where the driver is accompanying and taking care of the vehicle).