Must the Car Insurance Policyholder Name Match the Vehicle Owner Name?

[LeLane]

The policyholder and the insured of car insurance can be someone other than the vehicle owner. Moreover, the vehicle owner does not necessarily have to purchase the insurance themselves; they can authorize someone else to handle it. In other words, others can also purchase insurance for a vehicle not registered under their name. There are four essential types of car insurance to buy: 1. Compulsory Traffic Insurance (CTI): CTI is a mandatory insurance required by the state, without which the vehicle cannot be driven on the road. It primarily protects the rights of victims in traffic accidents (excluding the vehicle's occupants and the insured). Although CTI is relatively inexpensive, its coverage limits are limited, necessitating supplementary commercial car insurance. The three main types of commercial car insurance to buy are: 2. Third-Party Liability Insurance: Also known as "Third-Party Insurance" or "TPL," it mainly covers bodily injury and property damage to third parties in traffic accidents. Third-Party Liability Insurance supplements CTI, covering the shortfall after CTI payouts. Vehicle owners can flexibly choose coverage amounts based on their location. For example, in first-tier cities with many luxury cars, it's advisable to opt for coverage of 1 million yuan or more. 3. Vehicle Damage Insurance: This insurance covers the policyholder's own vehicle damage. Given that minor collisions are almost unavoidable while driving, if the other party is not fully at fault, some costs will inevitably need to be paid out of pocket. Additionally, in case of unexpected incidents like falling objects, Vehicle Damage Insurance can also cover the costs. Therefore, Vehicle Damage Insurance is practically a must-have, and the coverage amount should match the vehicle's value. 4. No-Deductible Insurance: Whether it's Third-Party Liability Insurance or Vehicle Damage Insurance, in the event of a traffic accident, unless the policyholder is not at fault, both types of insurance have a certain deductible rate, meaning a portion of the cost must be paid by the policyholder. Purchasing No-Deductible Insurance can eliminate this deductible rate, ensuring no out-of-pocket expenses.