Is it mandatory to buy insurance when purchasing a car?

[Alyssa]

It is mandatory to purchase compulsory traffic insurance when buying a car, while ordinary commercial insurance can be freely chosen. If compulsory traffic insurance is not purchased, once caught by traffic police, the consequences include: 1) vehicle impoundment, 2) requirement to back-pay the compulsory insurance, and 3) a penalty of twice the compulsory insurance premium. Compulsory traffic insurance, short for Compulsory Motor Vehicle Traffic Accident Liability Insurance, is a mandatory insurance required by the state for every vehicle owner. It is a compulsory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses (excluding the vehicle's occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. It is a type of liability insurance with a coverage period of one year. Automobile commercial insurance is essentially commercial motor vehicle insurance. Commercial motor vehicle insurance is voluntarily purchased by the vehicle owner from commercial insurance companies, in addition to the state-mandated compulsory traffic insurance. Common types of automobile commercial insurance include vehicle damage insurance, third-party liability insurance, theft insurance, and passenger liability insurance. Process for purchasing insurance: Prepare documents: For individual vehicle insurance, the driver should bring their ID card, driver's license, vehicle registration certificate, letter of introduction, and other relevant documents for the insured vehicle. For vehicles engaged in individual business operations, additional documents such as business license and transport permit should be brought to the insurance company. Fill out the policy after vehicle inspection: The insurance company will conduct a vehicle inspection at a designated inspection site. The review is to confirm whether the vehicle meets the insurance company's underwriting conditions. If approved, the policy can be filled out. The vehicle owner should verify the policy details to ensure accuracy before selecting the insurance types. Pay the premium after confirmation: After confirming the policy and selecting the insurance types, the premium can be paid. Upon payment, the policyholder and the insurer can sign the insurance certificate, after which the insurance company will issue a receipt.

[VanJohnny]

In many countries, including China, it's almost unthinkable to buy a car without insurance. I've personally seen a friend who didn't purchase insurance get into a minor accident. When the police checked his driver's license, they immediately issued a fine upon discovering the issue, and he almost had his license revoked. Legally, this is called compulsory insurance, which protects you from getting into trouble due to lack of coverage, such as when no one takes responsibility for accident compensation. Without insurance, not only would you have to pay for vehicle repairs out of pocket in case of an accident, but you could also face lawsuits demanding high compensation from the other party. This isn't just about saving money—it's about adhering to basic rules that can prevent countless headaches in life. Every time I purchase a car, the first thing I do is check the local insurance requirements to ensure full compliance from the very beginning.

[AnnaMarie]

From an economic perspective, I believe purchasing car insurance isn't mandatory but absolutely essential. Think about it - if a brand-new car gets scratched or collides, repair costs can easily run into thousands or even tens of thousands, not to mention the worse scenario of injuring someone; insurance can cover most of these losses. Every time I buy a car, I opt for basic coverage like compulsory traffic insurance and third-party liability insurance. This gives me much greater peace of mind when driving, as otherwise a single small mistake could wipe out my savings. Although insurance adds some monthly expenses, when you weigh the risks, you'll realize that amount is trivial compared to potential financial disaster.

[AndresDella]

As an ordinary car owner, I'll be blunt: car insurance isn't mandatory but it's absolutely essential. I remember when I bought my first car, thinking insurance was too expensive so I only got compulsory traffic insurance. Then one rainy day I rear-ended another vehicle. I had to cover all the repair and medical costs myself - it took me two months to recover financially. Since then, I've upgraded to comprehensive coverage. Insurance is like buying a safety cushion; it protects you from devastating financial blows in case of accidents. Especially for new drivers, I strongly advise against cutting corners on insurance.