Should I Purchase Comprehensive Insurance for a New Car?
1 Answers
Whether to buy comprehensive insurance for a new car depends on individual needs. Most car owners generally purchase the following types of commercial insurance: 1. Vehicle Damage Insurance. Vehicle Damage Insurance covers the costs incurred due to vehicle damage caused by traffic accidents during driving. 2. Third-Party Liability Insurance. Third-Party Liability Insurance refers to the economic liability that the insured or their permitted driver should bear according to the law when a traffic accident occurs while using the insured vehicle, resulting in bodily injury, death, or direct property damage to a third party. The insurance company will compensate according to the insurance contract. 3. Passenger Liability Insurance. Passenger Liability Insurance refers to the compensation liability that the insured should bear according to the law when an insured accident occurs while a qualified driver permitted by the insured is using the insured vehicle, resulting in bodily injury or death to passengers in the vehicle. The insurance company will compensate according to the insurance contract. 4. Full Vehicle Theft Insurance. When the insured motor vehicle is stolen, robbed, or snatched, resulting in vehicle loss, or when the vehicle is damaged or parts and accessories are lost and need repair during the theft, robbery, or snatching, the insurance company will compensate according to the contract.
