What is the Coverage of Compulsory Auto Insurance?
1 Answers
Vehicle compulsory insurance coverage includes: compensation limits for death and disability, and no-fault death and disability compensation limits, which cover funeral expenses, death compensation, transportation costs incurred by the victim's relatives for funeral arrangements, disability compensation, disability aid equipment costs, nursing expenses, rehabilitation fees, transportation fees, living expenses for dependents, accommodation fees, lost wages, and mental distress compensation that the insured is liable for as per court judgment or mediation. Compulsory insurance liability: If the insured causes a traffic accident while using the insured vehicle, resulting in personal injury, death, or property loss to the victim, and the insured is legally liable for the damages, the insurance company will compensate within the specified limits for each accident as agreed. Exclusions: The insurance company is not responsible for compensation or advance payments. Losses caused intentionally by the victim; Losses to the insured's own property or property on the insured vehicle; Losses caused by the insured vehicle's traffic accident, such as business interruption, vehicle downtime, power outage, water outage, gas outage, production halt, communication or network interruption, data loss, voltage fluctuations, etc., as well as depreciation of the victim's property due to market price changes, loss of value after repairs, and other indirect losses; Arbitration or litigation costs and other related expenses arising from traffic accidents.
