Is Vehicle Loss Insurance the Same as Auto Damage Insurance?
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Vehicle Loss Insurance is responsible for compensating the losses of the insured vehicle caused by natural disasters and accidents. It is the most widely used type of vehicle insurance. Below is a detailed introduction about vehicle insurance: 1. Overview: Vehicle insurance, also known as motor vehicle insurance or auto insurance, 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. 2. Others: Auto insurance is a type of property insurance. In the field of property insurance, auto insurance is a relatively young category. In the early stages of auto insurance, the primary coverage was third-party liability insurance for vehicles, which gradually expanded to include risks such as collision damage to the vehicle body.