Is Vehicle Damage Insurance Mandatory to Purchase?
2 Answers
Vehicle Damage Insurance is not mandatory to purchase. Below is a partial introduction about auto insurance: Components: Auto insurance generally consists of two parts: basic insurance and additional insurance. Basic insurance is further divided into Vehicle Damage Insurance and Third-Party Liability Insurance. Coverage Details: Vehicle Damage Insurance provides compensation for damages to your own vehicle; Third-Party Liability Insurance covers damages to targets outside your own vehicle, such as people hit, public property, or the other party's vehicle; Passenger Liability Insurance compensates for injuries and property losses to people inside your own vehicle; Theft Insurance provides compensation when your own vehicle is stolen; No Deductible Coverage ensures 100% compensation in case of an accident. If No Deductible Coverage is not purchased, you are responsible for 30% of the deductible in each accident.
As a seasoned driver with years of experience, I know very well that vehicle damage insurance is not mandatory. What's truly compulsory is compulsory traffic insurance, which only covers other people's losses, not your own vehicle. But honestly, vehicle damage insurance is very practical—I've personally benefited from it when my car got scratched in a parking lot, and the claim was fully covered. If you don't buy it, the risk is quite high; repair costs could easily run into tens of thousands if an accident occurs. My advice is: if your car is new or quite valuable, it's worth spending a bit on vehicle damage insurance. If your budget is tight, you can choose different coverage options. It offers much more peace of mind than just having compulsory insurance, and with so many insurance companies around now, you can easily find one with good value for money.
