What is the coverage and compensation amount of car insurance?
1 Answers
Coverage: The insured vehicle collides or overturns during use (Collision refers to direct contact between the insured vehicle and external objects, but human-induced scratches on the insured vehicle are not covered under the vehicle damage insurance; Overturning means the insured vehicle flips over due to natural disasters or accidents, losing its normal state and driving capability, and cannot be restored to driving condition without rescue.); The insured vehicle encounters fire, explosion, etc.; External objects collapse, airborne objects fall, or the insured vehicle falls parallel while driving; The insured vehicle is struck by lightning, storms, tornadoes, heavy rain, floods, tsunamis, ground collapse, ice collapse, cliff collapse, avalanches, hail disasters, mudslides, landslides, etc.; Natural disasters encountered by the insured vehicle during transportation (Only during transportation, with the 58 Auto driver accompanying and taking care of the vehicle, will the insurance company compensate); Compensation amount: Determined based on the extent of vehicle damage, with no uniform standard for compensation amount. Generally, there are the following scenarios: In case of total loss of the vehicle, compensation is calculated within the insured amount. If the insured amount exceeds the actual value of the insured vehicle at the time of the insurance incident, compensation is calculated based on the actual value of the insured vehicle at the time of the incident; In case of partial loss of the vehicle, for vehicles with the insured amount determined by the new car purchase price, compensation is calculated based on actual repair and necessary, reasonable rescue costs, using the formula: Actual repair and rescue costs - residual value. For vehicles with an insured amount lower than the new car purchase price at the time of insurance, in case of partial loss, compensation for repair and rescue costs is calculated based on the ratio of the insured amount to the new car purchase price at the time of the incident, using the formula: (Actual repair and rescue costs - residual value) × (Insured amount ÷ New car purchase price).
