Do I Need to Buy Full Coverage Insurance for a New Car?
3 Answers
New cars do not require full coverage insurance. However, basic insurance such as compulsory traffic insurance must be purchased. Below is a detailed introduction to car insurance: 1. Vehicle insurance: Also known as motor vehicle insurance, or simply car insurance, it refers to a type of commercial insurance that covers liability for personal injury, death, or property damage caused by natural disasters or accidents involving motor vehicles. 2. Others: Car insurance is a type of property insurance. In the field of property insurance, car insurance is a relatively young category. This is because car insurance emerged and developed alongside the appearance and popularization of automobiles. Unlike modern motor vehicle insurance, early car insurance primarily focused on third-party liability insurance and gradually expanded to cover risks such as collision damage to the vehicle body.
As a regular office worker who just bought my first car, I think comprehensive insurance is quite necessary because new drivers tend to get nervous and make mistakes. In case of scratches or minor collisions, the vehicle damage insurance can cover repair costs; third-party liability insurance protects against losses to others; and passenger liability insurance ensures my own safety. With a new car's high value, although the premium for comprehensive insurance is a bit expensive, it breaks down to just a few hundred yuan per month. For example, shortly after I bought my car last year, I rear-ended someone, and the repair cost over ten thousand yuan—fortunately, the comprehensive insurance covered 90% of it. I recommend that new drivers opt for comprehensive insurance for at least the first two years and adjust the coverage after gaining more driving experience. Saving money is important, but safety comes first.
As a budget-conscious average car owner, I believe whether to purchase full coverage insurance right after buying a car depends on personal financial circumstances. Full coverage typically includes compulsory traffic insurance, vehicle damage insurance, etc., with comprehensive premiums potentially accounting for around 10% of the car's value. If you frequently drive in urban areas with good driving skills, opting for basic coverage can save money; however, for new drivers or high-risk routes, full coverage offers better protection. For instance, when I initially bought my car with a loan, I chose full coverage to safeguard the principal; three years later when the car aged, I switched to a basic package and saved 20%. Remember to consult insurance advisors to compare plans. Rational allocation of expenses makes life easier.
