Is my own vehicle not covered if I don't have collision insurance?
2 Answers
If your vehicle doesn't have collision insurance, it won't be covered. Compulsory traffic insurance and third-party liability insurance only cover damages to the other party's vehicle; only collision insurance provides compensation for your own vehicle's damages. Here's what collision insurance covers: Scope of collision insurance coverage: During the insurance period after purchasing the policy, the insurer is responsible for compensating for accidents or natural disasters (excluding earthquakes) that occur while the insured or an authorized driver is using the vehicle. However, if situations specified in the insurance contract occur, such as the insured or an authorized driver operating the vehicle without a license or under the influence of alcohol, the insurer may be exempt from liability. Who should consider purchasing collision insurance: Novice drivers, new cars, and high-value vehicles: Novice drivers are more prone to accidents due to their lack of driving experience; owners of new cars often want to protect their vehicles from significant damage in case of an accident, so collision insurance is recommended for both new drivers and new cars. High-value vehicles generally have higher repair costs than ordinary vehicles, so purchasing collision insurance can help avoid the financial burden of unexpectedly high repair expenses in case of an accident.
Last time my friend didn't purchase vehicle damage insurance, and when his car got hit by someone else, he didn't receive a single penny in compensation, having to pay for the repairs out of his own pocket. Vehicle damage insurance primarily covers losses to your own car in accidents, natural disasters, etc. The standard compulsory traffic insurance only covers third-party liability, meaning it pays when you hit someone else, but the insurance company won't cover damages to your own vehicle. Having driven for over a decade, I believe that although this type of insurance costs a bit more each year, it can save you thousands in repair costs when it matters most, especially for new or high-end cars which should definitely consider it. There are many repair scenarios, like body paintwork or shattered windshields, which can be quite expensive. Without insurance, you're on the hook for all repair costs if an accident occurs, and in severe cases, you might even need to borrow money to cover them. I advise beginners not to skimp on this small expense; getting a comprehensive commercial insurance package offers more peace of mind and fewer worries on the road.
