What Does Commercial Auto Insurance Cover?

[McSarah]

Commercial auto insurance is divided into the following types: Vehicle Damage Insurance: This insurance mainly provides compensation as stipulated in the contract after accidental collisions or other incidents. Even with the utmost caution, vehicle owners may still encounter situations where their vehicles sustain damage while driving. Third-Party Liability Insurance: This insurance primarily covers situations where, during the use of the vehicle, an accident occurs causing bodily injury or property damage to a third party. If the policyholder is liable for compensation, the insurance company will cover the portion exceeding the compulsory traffic insurance limit, according to the contract terms. Passenger Liability Insurance: This passenger safety insurance has two main aspects: one applies to the driver, known as driver liability insurance, and the other to passengers, called passenger liability insurance. Both can receive compensation in the event of an accident. Comprehensive Theft Insurance: This insurance mainly covers situations where the insured vehicle is stolen, robbed, or hijacked, leading to loss or damage requiring reasonable repair costs.