What Are the Aftereffects of Water-Damaged Vehicles?
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Water-damaged vehicles may experience aftereffects such as engine failure, transmission damage, water-soaked interiors, and electronic system malfunctions. Below is relevant information about vehicle insurance: 1. Introduction: Vehicle insurance, also known as motor vehicle insurance or auto insurance, is a type of commercial insurance that covers personal injuries or property damage caused by natural disasters or accidents involving motor vehicles. 2. Categories: Commercial insurance is an open policy divided into basic coverage and additional coverage, with the latter being non-independent. Basic coverage includes third-party liability insurance and vehicle damage insurance (comprehensive coverage). Additional coverage includes total vehicle theft insurance (theft coverage), onboard liability insurance, no-fault liability insurance, cargo drop liability insurance, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion loss insurance, new equipment loss insurance, and deductible waiver insurance. Compulsory traffic accident liability insurance (commonly known as "compulsory insurance") also falls under the broad category of third-party liability insurance. Compulsory insurance is mandatory, and vehicles must have it to be driven on the road, undergo annual inspections, and be registered. In the event of third-party losses requiring claims, compulsory insurance must be paid out first before other types of coverage.
