What Does Commercial Auto Insurance Include?
1 Answers
Commercial auto insurance includes the following types: 1. Collision Coverage: Used to compensate for losses to the vehicle itself caused by natural disasters and accidents. It is recommended for novice drivers to purchase. 2. Third-Party Liability Insurance: Designed to compensate for losses of third-party personal injuries or deaths caused by the vehicle owner, providing protection for both oneself and others. 3. No-Fault Insurance: An additional coverage that transfers the responsibility the owner needs to bear to the insurance company, reducing the owner's losses. It is advisable to purchase no-fault insurance if both collision coverage and third-party liability insurance are bought. 4. Theft and Robbery Coverage: Used to compensate for damages caused by vehicle theft, robbery, or hijacking. It is recommended for new car owners without garages. 5. Spontaneous Combustion Insurance: Used to compensate for losses caused by fires due to the vehicle's own electrical or wiring issues, suitable for older vehicles. 6. Scratch Damage Insurance: Used to compensate for losses caused by intentional, malicious, or accidental scratches during driving.