Should I Claim Vehicle Damage Insurance or Third-Party Liability After Hitting Someone Else's Car?
1 Answers
After hitting someone else's car, you should claim either third-party liability insurance or compulsory traffic insurance. Below are the relevant introductions to compulsory traffic insurance and third-party liability insurance: Compulsory Traffic Insurance: The full name of compulsory traffic insurance is 'Compulsory Liability Insurance for Motor Vehicle Traffic Accidents.' It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, or property losses caused to victims (excluding passengers in the insured vehicle and the insured) within the liability limits in the event of a road traffic accident involving the insured vehicle. Third-Party Liability Insurance: Third-party commercial liability insurance refers to accidental incidents occurring during the use of the insured vehicle by the insured or their legally permitted drivers, resulting in personal injuries, deaths, or direct property damage to a third party. The insured is legally liable for the economic compensation, which the insurance company is responsible for covering. Since the introduction of compulsory traffic insurance, third-party liability insurance has become a non-mandatory insurance that can serve as a supplement to compulsory traffic insurance.
