Is it mandatory to purchase full coverage insurance for the first year of a new car?
1 Answers
Purchasing full coverage insurance is not mandatory for the first year of a new car. Insurance purchases have always been based on the principle of voluntariness. Apart from compulsory traffic insurance, which is mandatory, other types of insurance are optional and can be chosen by the car owner according to their needs. This decision is not related to the age of the car, and there are no regulations or authorities that enforce the purchase of such insurance. Here is an introduction to various types of insurance: Vehicle Damage Insurance: This insurance covers the loss of the insured vehicle due to a traffic accident, with the insurance company providing compensation within a reasonable range. Third-Party Liability Insurance: This insurance covers injuries or property damage caused to others while driving, with the insurance company providing compensation as agreed. Passenger Liability Insurance: An additional coverage to third-party liability insurance, this insurance compensates for the medical expenses or death benefits of passengers in the insured vehicle in the event of a traffic accident. No-Deductible Insurance: As an additional coverage, this insurance ensures full compensation without deductibles, even if the insurance company would otherwise pay only a portion under vehicle damage or third-party liability insurance. Scratch Insurance: Minor scratches, especially in prominent areas, can affect the car's appearance and distress the owner. Therefore, many new car owners opt for scratch insurance. However, scratch repair costs are relatively high, and damages caused by collisions are usually covered under vehicle damage insurance. Thus, purchasing scratch insurance should be considered based on individual circumstances.
