Is it mandatory to purchase full coverage insurance for the first year of a new car?
2 Answers
Buying insurance should be decided based on your personal situation and the condition of the car. Additional information: If you feel it's insufficient, you can purchase commercial third-party liability insurance as a supplement. These additional insurance types are determined by your financial capacity and risk tolerance, including whether to buy them and how much coverage to purchase. For example, if the parts of the new car are expensive and you are a novice driver, you might consider purchasing collision coverage. For theft insurance, if you have a garage or a dedicated guarded parking spot, and you usually park in safe places when going out, you might consider whether to skip it. There are many types of insurance available. Commercial insurance options include: collision insurance, third-party liability insurance, and passenger insurance.
To be honest, I don't think it's mandatory to buy comprehensive insurance for a new car in the first year, but it's really a wise choice. For our vehicles on the road, compulsory traffic insurance is required by the state, while comprehensive insurance is additional commercial coverage like vehicle damage insurance, which isn't mandatory. A brand-new car is worth a lot of money, and if you accidentally scratch it or get into an accident, the repair costs can be shocking. When I bought my car a few years ago, I didn't get comprehensive insurance in the first year and ended up paying over 5,000 yuan out of pocket to fix a door I scratched while reversing—I regretted it so much. Since then, I've always recommended getting comprehensive insurance for new cars, especially if you're financing, as banks may require it to protect their asset. Overall, comprehensive insurance costs a few thousand yuan a year, but it saves you the hassle of hefty repair bills—it's worth it! Driving inherently comes with risks, and new cars are more delicate, so comprehensive insurance offers more complete protection. Don't skimp to save money and end up paying more later.
