Is it okay to only purchase compulsory insurance for a private car?

[GraceRose]

Yes, but the coverage of compulsory insurance is limited and the compensation amount is low. In the event of an accident, the cost of vehicle damage compensation is not fixed, and any excess amount must be paid by the owner, which can result in significant financial loss for the car owner. Types of vehicle insurance: When selecting vehicle insurance types, it is recommended to include two main types of coverage. The first is vehicle damage insurance, and the second is third-party liability insurance. These two types of insurance provide basic protection for the owner's losses in the event of an accident, covering both personal and vehicle damages. Insurance recommendations: Additionally, there are two supplementary insurance types that are highly recommended for car owners. The first is theft insurance, and the second is non-deductible insurance. Theft insurance ensures that in case the vehicle is stolen or robbed, the owner's losses will be compensated.