Is Full Coverage Insurance Mandatory for the First Year of a New Car?
2 Answers
Full coverage insurance is not mandatory for the first year of a new car. It can be purchased according to individual needs. Comprehensive Insurance: Full coverage insurance is not compulsory for the first year of a new car, and insurance can be purchased based on personal requirements. Typically, new cars are often covered with full insurance because the combination of a new car and an inexperienced driver is prone to accidents. However, by the second year of insurance, many car owners choose their insurance items based on their specific needs. Compulsory Traffic Insurance: When registering a new car, in addition to paying various car taxes, the car buyer is also required to purchase compulsory traffic insurance, which is a mandatory national requirement.
It's not mandatory to get full coverage for the first year of a new car, but it's highly recommended. When I first picked up my car, the 4S store salesperson also explained to me that even scratching the curb with a new car would be heartbreaking. For those like me who bought the car with a loan, the bank would require purchasing collision insurance and theft insurance. The most useful part of full coverage is the collision insurance, which now includes scratches, glass, and water damage. Just one paint job can cost over a thousand. Don't skimp on third-party liability insurance either; if you accidentally hit an electric vehicle or a luxury car in the city, without a million in coverage, you really can't handle it. However, for something like water damage insurance, it's indeed negotiable in dry northern regions. Remember, insurance is for peace of mind; don't gamble on saving two or three thousand.
