Will Insurance Cover a New Car if Mine is Flooded?
1 Answers
Insurance will not cover a new car if yours is flooded, but it can provide compensation according to the terms of the vehicle damage insurance. Here is some relevant information about vehicle insurance: 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 losses caused by natural disasters or accidents involving motor vehicles. Classification: Commercial insurance is an open policy and is divided into basic insurance and additional insurance, with the latter not being independently insurable. 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 loss insurance, new equipment loss insurance, and no-deductible special insurance. Compulsory traffic accident liability insurance (also known as compulsory third-party liability insurance) also falls under the broad category of third-party liability insurance. Compulsory insurance is mandatory, and vehicles must have it to be driven on the road, undergo annual inspections, and be registered. In the event of third-party losses requiring claims, compulsory insurance must be paid out first before other types of insurance.
