Definition: Vehicle Commercial Insurance (VCI) refers to an insurance policy designed to protect a vehicle from physical damage or loss caused by certain types of accidents, such as collisions, mechanical breakdowns, fires, theft, and vandalism. This coverage typically includes comprehensive coverage for collision damage, but it may also include optional coverage for other types of losses such as wind damage or water damage. The term "vehicle commercial insurance" is commonly used in the context of vehicle leasing, where the owner has agreed to pay for a specific number of miles driven per year and a fixed amount per year on the cost of insurance. This type of coverage is also known as comprehensive coverage and may include other types of coverage such as collision damage waiver, third-party liability protection, and general liability insurance. In summary, vehicle commercial insurance covers physical damage caused by accidents to vehicles, including collision damage and mechanical breakdowns. It is typically provided in a separate policy from full coverage car insurance, but it can be extended or purchased separately for specific types of losses.
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