
Lapse of generally refers to the lapse of compulsory traffic insurance, which means failing to renew the insurance policy before its expiration date. Below is relevant information about auto insurance: 1. Definition: Auto insurance, also known as motor vehicle insurance or simply car insurance, is a type of commercial insurance that covers liability for personal injuries or property damage caused by natural disasters or accidents involving motor vehicles. 2. Classification of Auto Insurance: Commercial insurance is an open policy and is divided into basic insurance and additional insurance, with the latter not being independently insurable. Basic insurance includes third-party liability insurance and vehicle damage insurance (comprehensive coverage). Additional insurance covers theft of the entire vehicle (theft insurance), onboard liability insurance, no-fault liability insurance, liability for dropped cargo, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion insurance, additional equipment insurance, and deductible waiver insurance.


