Will Insurance Cover a New Car if Mine is Flooded?
1 Answers
Insurance does not cover a new car if yours is flooded, but it can compensate according to the terms of the vehicle damage insurance. Below is relevant information about vehicle insurance: 1. Introduction: Vehicle insurance, also known as motor vehicle insurance or auto insurance, refers to a type of commercial insurance that covers personal injuries or property damage caused by natural disasters or accidents involving motor vehicles. 2. Categories: Commercial insurance is an open policy insurance, 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), on-board liability insurance, no-fault liability insurance, cargo drop 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 losses requiring claims, compulsory traffic insurance must be paid first before other insurance types are compensated.
