Will Insurance Cover Typhoon-Flooded Cars?
1 Answers
Insurance will cover typhoon-flooded cars. Additional information is as follows: 1. Vehicle Damage Insurance: This refers to coverage for losses incurred by insured vehicles due to natural disasters (excluding earthquakes) or accidents within the insurance liability scope. It is typically the most expensive premium among private car insurance policies. 2. Compulsory Traffic Insurance: Officially termed 'Compulsory Motor Vehicle Traffic Accident Liability Insurance', this mandatory policy requires insurers to compensate victims (excluding vehicle occupants and the insured) for personal injuries, deaths, or property losses resulting from road accidents involving the insured vehicle, within specified liability limits.