Auto insurance, that is, motor vehicle insurance, referred to as auto insurance, refers to the commercial insurance that is liable for personal injury or property damage caused by natural disasters or accidents. Auto insurance is a kind of property insurance. In the field of property insurance, auto insurance belongs to a relatively young type of insurance. This is because auto insurance is produced and developed with the appearance and popularization of automobiles. At the same time, different from modern motor vehicle insurance, in the early stage of auto insurance, the main insurance is the third party liability insurance of the car, and it is gradually extended to the risk of collision loss of the body.
What are the items of car insurance?
At present, in addition to the compulsory traffic insurance that the state obliges motor vehicle owners to purchase, other motor vehicle insurances are divided into two categories. These two types of insurance include two types of basic insurance: one is the basic insurance, including vehicle loss insurance and third-party liability accident insurance, and the other is additional insurance voluntarily insured by car owners, mainly including full car theft rescue, car liability insurance, separate glass breakage insurance, spontaneous combustion loss insurance, special insurance not including deductibles and other types of insurance.
What are the items in car insurance:
1. The third-party liability insurance insures that the vehicle causes personal injury or direct loss of property to others due to an accident, and the insurance company shall compensate following the relevant provisions of the insurance contract. The emphasis here is on others, that is, third parties. The insurance liability of the insurance company is stipulated in the insurance contract as follows: the qualified driver permitted by the insured has an accident in the process of using the insured vehicle, causing a third party to suffer personal injury or direct property damage, and the insurance company shall comply with the law. Compensation shall be paid by the provisions of the Measures for Handling Road Traffic Accidents and the insurance contract.
2. Whole-vehicle theft and rescue mean that the entire vehicle of the insured vehicle is stolen or robbed. It has been confirmed by the criminal investigation department of the public security that the whereabouts have not been found within three months, or the insured vehicle has been damaged during the period of the theft, robbery, or robbery. The insurance company is responsible for the compensation for the reasonable cost of repairing the lost parts and auxiliary equipment on the vehicle.
3. On-vehicle liability insurance refers to the insured motor vehicle that has an accident during the use process, resulting in indirect damage to the goods on the insured vehicle and personal injury to the people on the vehicle, which should be borne by the insured According to law. For economic compensation liability, the insurance company shall calculate the compensation within the insurance compensation amount stated in the insurance policy.
4. No-fault liability insurance refers to the fact that the vehicle insured by this insurance is in use, due to traffic accidents with non-motor vehicles and pedestrians, causing casualties and direct property damage to the other party, the insured vehicle is not at fault, and the insured refuses to compensate If it fails, the insurance company is responsible for paying compensation for the expenses that the insured has paid to the other party but cannot be recovered.
5. Liability insurance for falling on-board cargo refers to the economic liability that should be borne by the insured per the law if a motor vehicle insured with this insurance is in use, and the cargo falls from the vehicle, causing personal injury or death to a third party or direct property damage. The insurance company is responsible for compensation.
6. Individual glass breakage insurance refers to the motor vehicle insured with this insurance in the process of parking or use, if the glass of the vehicle is broken alone, the insurance company will compensate according to the actual loss.
7. Vehicle stop-loss insurance refers to the loss caused by the vehicle being stopped due to natural disasters or accidents during the use of the motor vehicle covered by this insurance. The insurance company shall pay according to the number of days and the amount of daily compensation agreed upon with the insured.
8. Natural loss insurance refers to the loss of the insured vehicle caused by the failure of the vehicle’s circuit, line, and fuel supply system during the use of the motor vehicle insured by this insurance, and the insurance company is responsible for compensation.
9. The newly added equipment loss insurance refers to the direct damage of the newly added equipment on the vehicle caused by natural disasters or accidents during the use of the motor vehicle insured with this insurance, and the insurance company is responsible for compensation.
10. Excluding deductible special insurance refers to the deductible amount that should be borne according to the liability within the amount that meets the compensation provisions in the event of an accident, loss insurance, and third-party liability insurance accident caused by the motor vehicle for which this special insurance has been handled. Insurance companies are responsible for compensation.
I believe everyone has a certain understanding of what items are in auto insurance. In the face of so many auto insurance items, how should car owners choose when they apply for insurance? Experts recommend first considering the condition of the vehicle and your driving skills. If it is a new car or a car of higher value, you can insure more common types of insurance.