Vehicle and vessel tax must be purchased along with compulsory traffic insurance. Below is relevant information about auto insurance: 1. Compulsory Traffic Insurance: Compulsory traffic insurance is a legally mandated coverage that every vehicle owner must purchase. It provides the most basic insurance claims when traffic accidents occur. In the event of an accident, compulsory traffic insurance helps vehicle owners cover economic compensation that would otherwise be difficult to pay. The compensation amount is determined based on the owner's proportion of responsibility in the accident and whether it resulted in personal injury or death. 2. Vehicle Damage Insurance: Vehicle damage insurance covers situations where the insured or an authorized driver causes an insured incident while driving, resulting in damage to the insured vehicle. The insurance company will provide compensation within reasonable limits. The premium for vehicle damage insurance is closely related to the vehicle's purchase price and the number of seats. 3. Third-Party Liability Insurance: Third-party liability insurance provides compensation for personal injury or direct property damage caused to a third party (excluding the driver and passengers of the insured vehicle) during an accident, as stipulated by the insurance company. 4. Comprehensive Theft Insurance: Comprehensive theft insurance offers compensation for losses due to the theft or robbery of the entire vehicle. After a theft incident, if the public security authorities file a case and fail to locate the vehicle within 60 days, the owner must provide documents such as the vehicle registration certificate, vehicle license, and purchase invoice to prove the vehicle's origin and legality to claim the insurance payout.
