What is Full Coverage Auto Insurance?
1 Answers
Full coverage auto insurance is a colloquial term, as the insurance industry currently lacks a standardized definition for it. Generally, full coverage includes eight types of insurance: compulsory traffic insurance, vehicle damage insurance, commercial third-party liability insurance, passenger liability insurance, theft insurance, scratch insurance, standalone glass breakage insurance, and no-deductible insurance. Auto insurance, also known as car insurance, refers to a type of commercial insurance that covers liability for personal injury or property damage caused by natural disasters or accidents involving motor vehicles. It falls under the category of property insurance. Within the property insurance sector, auto insurance is a relatively young type of coverage, as it emerged and developed alongside the advent and popularization of automobiles.