Can I Buy Insurance Outside the 4S Store for a Car on Installment?
2 Answers
Generally, 4S stores require customers to purchase insurance in-store for cars bought on installment, and some may require a deposit. Below is an introduction to car insurance: Meaning of Car Insurance: Vehicle insurance, also known as motor vehicle insurance, is referred to as auto insurance or car insurance. Types of Car Insurance: Compulsory Traffic Insurance, Vehicle Damage Insurance, Third-Party Liability Insurance, Full Vehicle Theft Insurance, Onboard Liability Insurance, No-Fault Liability Insurance, Falling Object Liability Insurance, Scratch Insurance, Glass Breakage Insurance, Vehicle Parking Loss Insurance, Spontaneous Combustion Insurance, Equipment Loss Insurance, No-Deductible Special Clause Insurance, etc.
When considering the issue of buying insurance for a financed car, as a veteran driver with decades of experience, I believe the key lies in understanding the loan requirements. Purchasing a financed car requires insurance, typically comprehensive coverage, to protect the lender's investment in case of losses due to accidents. However, the 4S shop is not the only option—I didn’t buy insurance for my own car at a 4S shop but instead ordered it directly through an insurance company or online platform. This was cheaper, and I saved about 20% by comparing quotes. The important thing is to check the loan contract to ensure the insurance covers the loan balance and meets the standards. After taking out the loan, I regularly review the policy to avoid gaps. Remember, 4S shops push insurance because of high profits, but consumers have the freedom to choose—as long as the policy is in place, you can drive with peace of mind.
