Will Insurance Cover a Typhoon-Submerged Car?
1 Answers
Insurance will cover a car submerged by a typhoon. 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 provides compensation for personal injuries, deaths, or property losses caused by natural disasters or accidents involving motor vehicles. Auto insurance is a category of property insurance. Within the field of property insurance, auto insurance is a relatively young type of coverage, as it emerged and developed alongside the advent and popularization of automobiles. Unlike modern motor vehicle insurance, early auto insurance primarily focused on third-party liability coverage and gradually expanded to include risks such as collision damage to the vehicle body. 2. Classification: Commercial insurance is an open-valued insurance divided into basic coverage and additional coverage, where additional coverage cannot be purchased independently. Basic coverage includes third-party liability insurance and vehicle damage insurance (comprehensive coverage). Additional coverage includes total theft insurance (theft coverage), onboard liability insurance, no-fault liability insurance, cargo drop liability insurance, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion insurance, new equipment 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 insurance is mandatory, and motor 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 coverages.
