In­sur­ance Ve­hi­cle Clas­si­fi­ca­tion

Top Gear (Philippines) - - The Garage -

When you de­cide to pur­chase mo­tor­car in­sur­ance the in­sur­ance com­pany will pro­vide pro­tec­tion by pay­ing for loss, dam­age, or li­a­bil­ity due to an ac­ci­dent from the own­er­ship, op­er­a­tion, use, and main­te­nance. But how are ve­hi­cles clas­si­fied by the in­sur­ance com­pany? The first cat­e­gory is Pri­vate Ve­hi­cle. Un­der this cat­e­gory, your car must be used for so­cial, do­mes­tic, and plea­sure pur­poses only. This means the in­sured car is designed for trans­port­ing non-fare pay­ing pas­sen­gers. The sec­ond cat­e­gory is Com­mer­cial Ve­hi­cle. Ve­hi­cles clas­si­fied un­der this should mainly be used for business pur­poses like for trans­port­ing goods or prod­ucts. However, ve­hi­cles that fall un­der this cat­e­gory should still be not used for trans­port­ing pas­sen­gers for com­pen­sa­tion.

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