What Does Motor Vehicle Loss Insurance Mean?

1 Answers
SanNaomi
07/28/25 2:33pm
Motor vehicle loss insurance refers to vehicle damage insurance, which means that if the insured vehicle is damaged due to an insured accident, the policyholder can claim compensation from the insurance company. The following are specific details: 1. Coverage reasons: Generally, it covers vehicle damage caused by storms, heavy rain, collisions, mudslides, earthquakes, and other reasons. It should be noted that after the 2020 auto insurance reform, the vehicle damage insurance also includes no-deductible coverage, spontaneous combustion insurance, water-related damage insurance, and third-party liability insurance when the third party cannot be found. 2. Choosing to insure: Motor vehicle loss insurance is a type of commercial auto insurance, and car owners can choose to insure according to their actual needs.
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