What does 0 yuan mean by absolute deductible for car damage insurance?

Absolute deductible refers to the deductible stipulated in the insurance contract that the insurance company will never be liable for losses below the agreed amount. When the loss of the subject matter insured occurs, it must exceed a certain amount or proportion, and the insurance company shall be liable for the excess. If the loss is below the prescribed limit, the insurance company will not compensate. 0 yuan, the absolute deductible of car damage insurance is that there is no deductible. As long as the insured vehicle suffers losses within the scope of car damage insurance, the insurance company will fully compensate 100%. You don't have to pay for the claim yourself. The most commonly used deductible compensation methods in insurance include absolute deductible compensation and relative deductible compensation.

The relative compensation method is that the insurance company stipulates a deductible. When the loss of the insured property exceeds the deductible, the insurance company will compensate all the losses without any deduction. Absolute deductible 0 yuan means that when the subject matter insured suffers losses, the insurer will never be liable for the losses below 0 yuan, and after exceeding 0 yuan, the insurer will be liable for the excess. Deductible is an additional risk of commercial insurance, and its insurance liability usually means that "after an accident, the insurance company will compensate the part of the deductible that should be borne by the insured according to the deductible rate agreed in the corresponding main insurance clause."

What does car damage insurance cover?

(1) Vehicle damage insurance refers to vehicle damage due to insurance accidents such as collision, overturning, fire and explosion;

(2) Self-ignition insurance refers to the loss of the insured automobile due to the failure of its wiring, electrical appliances and oil supply system, or the fire of the goods themselves;

(3) Glass insurance, which mainly covers the damage to the windshield or window glass of the insured vehicle;

(4) Theft and emergency rescue can ensure that the insured vehicle is stolen, robbed, robbed and damaged in this process.

Legal basis:

People's Republic of China (PRC) insurance law

Article 60 If an insured accident is caused by damage to the subject matter insured by a third party, the insurer shall subrogate the insured's right to claim compensation from the third party within the amount of compensation from the date of compensation to the insured. If the insured has obtained compensation from a third party after the occurrence of the insured accident specified in the preceding paragraph, the insurer may deduct the amount of compensation that the insured has obtained from the third party when compensating the insurance money.