What does it mean for a vehicle to be declared a total loss?
1 Answers
Vehicle declared a total loss refers to a situation where the insured vehicle is deemed by the auto insurance company to be completely destroyed or severely damaged, with no repair value. Below is a detailed introduction about vehicle insurance: 1. Overview: Vehicle insurance, also known as motor vehicle insurance or auto insurance, is a type of commercial insurance that covers liability for personal injury or property damage caused by natural disasters or accidents involving motor vehicles. 2. Other information: Auto insurance is a form of property insurance. In the field of property insurance, auto insurance is a relatively young category. In the early stages of auto insurance, the main coverage was third-party liability insurance for vehicles, which gradually expanded to include risks such as collision damage to the vehicle body.