What are the mandatory insurances for vehicles?

1 Answers
VanMary
07/28/25 2:10pm
Vehicles must purchase the following insurances: Compulsory Traffic Insurance: This is a mandatory insurance stipulated by the state. If not purchased, traffic police can impose fines upon inspection. This insurance offers limited compensation, mainly covering others and not the policyholder's own vehicle. Third-party Liability Insurance: In the event of an accident causing injury, death, or direct property damage to individuals other than the driver and passengers, the insurance company will provide compensation according to regulations. If the other party is fully at fault, the insurance company can offer full compensation. If the policyholder is fully at fault, the insurance company has a 20% deductible. Vehicle Damage Insurance: This insurance compensates the policyholder for their own vehicle damages. It is particularly useful for new drivers who may experience minor scrapes and scratches, helping to reduce personal losses.
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