Will Insurance Cover a Naturally Flooded Vehicle?
1 Answers
As long as you have purchased waterlogging insurance, the insurance company will provide compensation. Below are relevant details: 1. Insurance Company: An insurance company refers to a corporate legal entity established in accordance with the Insurance Law and the Company Law. Insurance companies collect premiums and invest the capital obtained from premiums in assets such as bonds, stocks, and loans. The income generated from these assets is used to pay the insurance compensation specified in the policy. 2. Waterlogging Insurance: Also known as auto damage insurance or engine special loss insurance, different insurance companies may use varying terms, but the essence remains the same. This is a newly derived type of insurance, referring to an additional coverage purchased by the car owner specifically for the engine.