Is Full Coverage Insurance Necessary for a New Car?

[DelMargaret]

Whether a new car requires full coverage insurance depends on the owner's preference. Apart from compulsory traffic insurance, which is legally mandated, all other types of insurance are optional based on the owner's decision. However, whether it's a new or old car, there are always risks associated with driving. Commercial insurance serves as a supplement to compulsory traffic insurance. Relying solely on compulsory insurance is not advisable, as accidents could result in substantial out-of-pocket expenses. To mitigate risks, it is recommended that car owners consider their specific needs and usage environment when deciding whether to purchase additional insurance. Full coverage insurance for a new car typically includes vehicle damage insurance, third-party liability insurance, passenger liability insurance, glass breakage insurance, comprehensive theft insurance, and spontaneous combustion insurance.