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Motor vehicle insurance classification Nov 01, 2018

Motor vehicle insurance classification

Motor vehicle insurance is an insurance for motor vehicles, electric cars, battery cars, motorcycles, tractors and other motor vehicles. Motor vehicle insurance can be divided into two categories: strong insurance and commercial insurance, while commercial insurance can be divided into two parts: basic insurance (also known as main insurance) and additional insurance. Motor vehicle insurance was born in the late 19th century. The world’s first motor vehicle insurance policy was issued by the British “Legal Accident Insurance Company” in 1895. The insurance premium ranged from £10 to £100 for a third party liability insurance policy. Auto fire insurance can be added under the condition of increased insurance premiums.