What are the 4 basic car insurances?
1 Answers
Car basic insurances include compulsory traffic insurance, vehicle damage insurance, third-party liability insurance, and no-deductible insurance. Below is a detailed introduction to car insurance: 1. Compulsory Traffic Insurance: Compulsory traffic insurance is a type of car insurance that the state mandates car owners to purchase. Other types of insurance may not be bought, but compulsory traffic insurance is a must for car owners; otherwise, the car is not allowed on the road. 2. Vehicle Damage Insurance: Vehicle damage insurance generally covers the loss of one's own vehicle or the other party's vehicle. In most cases, car owners will insure this. 3. Third-party Liability Insurance: Third-party liability insurance covers injuries to third parties or damage to their property. For example, if a traffic accident involves injuries to a third party, having this insurance will provide compensation. 4. No-deductible Insurance: No-deductible insurance is a must-buy for car owners. Without this insurance, there is generally a deductible rate of about 25% when a claim occurs.