What does commercial auto insurance include?
2 Answers
Commercial auto insurance consists of three main coverages and eleven additional coverages. The main coverages are vehicle damage insurance, third-party liability insurance, and passenger liability insurance. Among the eleven additional coverages, there are five newly added ones: standalone wheel loss insurance, medical expenses outside of medical insurance coverage liability insurance, special provisions for motor vehicle value-added services, special provisions for absolute deductible rates, and special provisions excluding engine water damage. Here are a few popular types of coverage: Vehicle Damage Insurance: Different vehicle models have different prices, and the vehicle price is the main factor affecting vehicle damage insurance. For example, for a car worth around 100,000 yuan, the premium is generally around 1,000 yuan. Third-Party Liability Insurance: Different coverage amounts have different prices, and car owners can choose the appropriate amount to insure based on their needs. Although the premiums from major insurance companies are the same, the discounts offered vary, so car owners should choose the best option. Passenger Liability Insurance: Generally, the coverage amount per seat ranges from 10,000 to 50,000 yuan. For the driver's seat, the premium is about 40 yuan per 10,000 yuan of coverage; for the passenger seats, the premium is about 27 yuan per 10,000 yuan of coverage.
Last time I bought car insurance, I learned that commercial insurance is quite complex, mainly including vehicle damage insurance (covering repairs for your own car's damages), third-party liability insurance (compensating for losses to others, such as collisions with other vehicles), and passenger liability insurance (protecting the safety of the driver and passengers). There are also many types of additional insurance, such as theft insurance (preventing car theft), glass breakage insurance (covering broken car windows), spontaneous combustion loss insurance (for older cars prone to self-ignition), and no-deductible insurance (paying less during claims). When buying car insurance, consider the car's condition and usage environment. For new cars, it's best to get comprehensive coverage, while for older cars, choose only the necessary ones, as premiums fluctuate—don't be too greedy for cheap deals. It's advisable to compare several insurance companies and clarify the terms to avoid missing out on any coverage and regretting it later.
