Vehicle damage insurance is the most widely used type of vehicle insurance, which is responsible for compensation for the loss of their own vehicles due to natural disasters and accidents. Whether it is a small rub, or damage to serious, can be paid by the insurance company to repair the cost.
The insured or his permitted qualified driver in the process of using the insurance vehicle, the insurance company is responsible for compensation for the loss caused by the following reasons:
(1) the loss of the insurance vehicle caused by the accident of the insurance vehicle (the accidental collision of the insurance vehicle with the external object), the rollover and other accidents
(2) the loss of the insurance vehicle caused by fire and explosion around the insurance vehicle
(3) the loss of the insurance vehicle caused by the collapse of the external object, the fall of the object running in the air, and the parallel fall of the insurance vehicle
(4) the loss of insurance vehicles caused by the following natural disasters: Lightning strike, storm, Cyclone, rainstorm, flood, tsunami, land subsidence, ice subsidence, landslide, debris disaster, debris flow, landslide
(5) the loss of the insurance vehicle caused by the natural disaster (limited to the driver’s care) of the passenger vehicle carrying the insurance vehicle
There are three ways to determine the amount of car damage insurance:
(1) in accordance with the new car purchase price to determine. (In accordance with the new car purchase price to determine the amount of insurance, this purchase price refers to the market at the time of the same model of the price plus the price of the purchase fee. In this way, the insurance company considers that the insurance is full, and the insured can get compensation for the actual loss.)
(2) determined according to the actual value at the time of investment. (The amount of the insurance is determined by the actual value at the time of the investment. The actual value is the price of the new car purchase price minus the depreciation amount. This way of insurance, although you can pay less premium, but from the insurance is underinsured. In the case of risk, compensation should be made according to the proportion of the amount of insurance and the purchase price of the new car. And the proportion of insurance companies do not pay more than the proportion of the savings.)
(3) is a more flexible approach: by the insured and the insurance company to determine the agreement. (The agreement between the insured and the insurance company is a more flexible approach, which usually occurs in rare models or the punishment of vehicles. Because the price of rare models like classic cars in the market are often not comparable, the value is relatively high, and the price of the car is often too low. The amount of insurance for both types of vehicles is not well defined. Therefore, it is necessary to use the method of negotiation between the insured and the insurance company.)
Another point to note is that determining the amount of insurance can not be too low, the same can not be too high, otherwise it is excess insurance, Article 39 of the insurance law: the amount of insurance may not exceed the value of insurance: if the insurance value is exceeded, the excess is invalid.
About insurance compensation
(1) compensation items:
Including the repair costs of the insured vehicle due to damage caused by the insurance liability accident, and the reasonable rescue you take to the vehicle (haulage costs in case the insured vehicle loses its normal performance capacity).
Part of the reasonable expenses consumed by the use of fire fighting equipment of others (non-professional fire units) in the rescue process, which should be borne by the insured if the property of others is damaged by the rescue.
Part of the damage to the insured vehicle due to the occurrence of an accident in the hauling of a non-employed trailer) and the reasonable expenses incurred by the protective measures
(2) compensation amount:
the insurance company will compensate 80%-95% of the total amount of compensation according to the size of your responsibility in the accident (the rest is the part of the insurance terms). The insured shall be 80% of the compensation for full responsibility in the accident, 85% of the compensation for primary responsibility, 90% of the compensation for equal responsibility of both parties to the accident, and 95% of the compensation for secondary responsibility of the insured.