Is Full Coverage Insurance Necessary for a New Car?
1 Answers
It is not mandatory to purchase full coverage insurance for the first year of a new car; it can be bought based on individual needs. However, new cars often come with full coverage insurance because the combination of a new car and an inexperienced driver increases the likelihood of accidents. Here is more relevant information: 1. Compulsory Traffic Insurance (CTI): When registering a new car, in addition to paying various taxes, you are required to purchase Compulsory Traffic Insurance, which is a mandatory insurance by the state. 2. Types of Coverage Included in Full Coverage Insurance: 1) Third-Party Liability Insurance: Covers the losses of the other party if you hit someone while driving. 2) Vehicle Damage Insurance: Covers the losses to your own vehicle due to natural disasters or collisions. 3) Passenger Liability Insurance: Covers injuries to passengers in your car in case of an accident. 4) Spontaneous Combustion Insurance: Covers losses if the insured vehicle catches fire due to internal structure or cargo. 5) Theft Insurance: Covers the full loss of the vehicle if it is stolen or robbed, provided a police report is filed and 60 days have passed. 6) Glass Breakage Insurance: Covers the cost of replacing windshield or window glass if broken while parked. 7) Scratch Insurance: Covers the cost of repairing minor scratches on the car body without obvious collision marks. 8) No-Deductible Insurance: Eliminates the deductible rate set by the insurance company, ensuring full compensation for losses. If you want the company to cover all damages, you need to purchase this additional coverage.
