Will Insurance Cover a Car Washed Away by Flood?
1 Answers
A car washed away by flood will only be covered by insurance if the owner has purchased the relevant vehicle damage insurance. Below is an introduction to vehicle insurance: Introduction: Vehicle insurance, also known as auto insurance, refers to a type of commercial insurance that covers personal injury or property damage caused by natural disasters or accidents involving motor vehicles. Auto insurance is a form of property insurance and is relatively new in the field of property insurance, as it emerged and developed alongside the invention and popularization of automobiles. Unlike modern auto insurance, early auto insurance primarily covered third-party liability and gradually expanded to include risks such as collision damage to the vehicle body. Classification: Commercial insurance is an open policy and is divided into basic insurance and additional insurance, where additional insurance cannot be purchased independently. Basic insurance includes third-party liability insurance and vehicle damage insurance; additional insurance includes comprehensive theft insurance (theft insurance), passenger liability insurance, no-fault liability insurance, cargo falling liability insurance, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion insurance, new equipment loss insurance, and deductible waiver insurance. Compulsory traffic insurance (i.e., compulsory motor vehicle traffic accident liability insurance) also falls under the broad category of third-party liability insurance. Compulsory traffic insurance is mandatory, and motor vehicles must purchase it to be driven on the road, undergo annual inspections, and be registered. In the event of third-party damage requiring a claim, compulsory traffic insurance must be paid out first before other types of insurance.
