Is it necessary to buy insurance for motorcycles every year?
1 Answers
Motorcycles must be insured every year. Motorcycle insurance is divided into compulsory traffic insurance and commercial insurance. Among them, compulsory traffic insurance must be purchased annually, otherwise, the owner will be fined and the motorcycle will be impounded if caught by traffic police. Commercial insurance can be chosen based on the owner's needs. Generally, to purchase compulsory traffic insurance and commercial vehicle insurance for a motorcycle, the owner needs to bring relevant documents to the local insurance company's office, as other channels are currently unavailable. Relevant information about compulsory traffic insurance is as follows: Introduction: The full name of compulsory traffic insurance is "Compulsory Traffic Accident Liability Insurance for Motor Vehicles." It is a mandatory 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 motor vehicle within the liability limits. Necessity: Compulsory traffic insurance ensures compensation for victims of motor vehicle road traffic accidents and promotes road traffic safety. It provides timely and basic protection for traffic accident victims.
