What is Vehicle Water Wading Insurance?
1 Answers
Engine water wading insurance refers to automobile damage insurance, also known as engine special loss insurance. Below is a detailed introduction about engine water wading insurance: 1. Overview: Engine water wading insurance is a newly derived insurance type, serving as an additional coverage purchased by car owners specifically for their vehicle's engine. 2. Function: It provides certain compensation when the engine is damaged due to reasons such as driving through waterlogged roads or being submerged in water. 3. Insurance Amount: Under normal circumstances, the insurance amount for engine water wading insurance is 50,000 Chinese Yuan. 4. Compensation Method: Each claim under water wading insurance is subject to a 15% absolute deductible rate. Compensation is based on actual repair costs within the insurance amount. When the cumulative claim amount reaches the insurance amount during the policy period, the insurance liability terminates.