If a traffic accident occurs when a friend borrows his car, should third-party commercial insurance compensate him?

It depends on whether the insurance contract of your friend's third-party liability insurance prohibits the loaning of vehicles. If not, you will be liable for compensation.

The compensation basis and compensation standard of third-party liability insurance:

(1) When an insured vehicle suffers a third-party liability accident, it should be based on China's current "Road Traffic Accident Handling Measures" The prescribed scope of compensation, items and standards as well as the provisions of the insurance contract.

(2) The amount of compensation shall be determined based on the liability limit specified in the insurance policy.

① When the insured’s compensation amount in proportion to the accident liability exceeds the liability limit:

Compensation = liability limit × (1-deductible rate)

< p>②When the amount of compensation the insured should bear in proportion to the accident liability is lower than the liability limit:

Compensation = amount of compensation payable × (1-deductible rate)

(3) The amount of compensation promised or paid by oneself: refers to the compensation scope, items and standards stipulated in the "Road Traffic Accident Handling Measures" and the provisions of the insurance contract, and the insured agrees to bear the compensation without prior consent of the insurer. or compensation paid.

Extended information:

Third party liability insurance (referred to as third party liability insurance), full name: commercial third party liability insurance. It refers to the amount of compensation that should be paid by the insured in accordance with the law when an accident occurs when a qualified driver allowed by the insured is using the insured vehicle, resulting in a third party suffering personal injury or direct loss of property. Compensation will be provided according to the relevant provisions in the insurance contract.

At the same time, if the insurance company agrees in writing, any arbitration or litigation expenses incurred by the insured as a result shall be borne by the insurance company. This insurance is mainly designed to ensure that third-party victims in road traffic accidents receive timely and effective compensation. However, the insured must be responsible for the aftermath of the accident. The insurance company will compensate outside the liability limit, but the maximum will not exceed 30% of the liability limit.

Reference: Baidu Encyclopedia-Third Party Liability Insurance