Is Vehicle Damage Insurance Necessary?
1 Answers
Vehicle damage insurance is necessary. Here is relevant information about vehicle damage insurance: Basic Concept: Vehicle damage insurance refers to a type of commercial auto insurance where the insurance company provides reasonable compensation for damages to the insured vehicle caused by an insured accident while the vehicle is being used by the insured or an authorized driver. Insurance Premium Discounts: The new policy also establishes 12 adjustment levels for auto insurance rates based on the previous year's claim records, with dynamic adjustments made according to the previous year's claims. The highest level is level 12, where the insurance premium will be adjusted to 200%; the lowest level is level 1, where the insurance premium will be adjusted to 50%.