What are the mandatory insurances for vehicles?

[StChristian]

There are 3 mandatory insurances for vehicles: 1. Compulsory Traffic Accident Liability Insurance: This is a compulsory insurance mandated by Chinese law, so all vehicle owners must purchase it. If your vehicle is driven on the road without this insurance, you may face point deductions and fines if caught by traffic police. In severe cases, you might even be detained as it's illegal. 2. Third-party Liability Insurance: This insurance mainly covers situations where your vehicle collides with another vehicle while driving, with the compensation fully paid by the insurance company. 3. Vehicle Damage Insurance: This refers to a commercial auto insurance where the insurer compensates for damages to the insured vehicle caused by accidents during driving, within reasonable limits.

[DelLeonardo]

I've been driving for many years, and the mandatory insurance for vehicles is the compulsory traffic accident liability insurance, also known as compulsory third-party liability insurance. It's required by national law for every vehicle. I remember when I first bought my car, I forgot to renew it on time and got fined by the traffic police, which also delayed my annual inspection. Since then, I've made sure to handle it in advance every year. The compulsory insurance mainly covers the other party's personal injury costs in case of a collision, with a cap of 2,000 yuan for medical expenses and 200,000 yuan for property damage, but it doesn't cover damage to your own vehicle. When driving, I find this insurance basic but super important—it prevents small accidents from burdening others and avoids legal troubles. If you've just bought a car, you can easily handle this insurance at an insurance company or a 4S shop when purchasing other policies. The cost isn't high, around 950 yuan per year for small cars, and renewing is as simple as clicking an app. Honestly, without it, you can't legally drive on the road. Everyone should regularly check their policy and not be as careless as I was back then.

[Hector]

I just got my driver's license and bought my first car. The salesperson at the 4S store reminded me that among all the insurances, only the compulsory traffic insurance (CTI) is mandatory, while others like vehicle damage insurance or third-party liability insurance are optional. As a beginner, I asked my driving instructor why this is necessary. He explained that CTI acts like a basic shield—if you accidentally hit someone while driving, it helps cover the other party's medical expenses or property damage, ensuring a minimum compensation limit to prevent you from emptying your wallet. I calculated the cost: when buying a new car, I directly handled the CTI along with the license plate registration, spending 950 yuan to get it done. After that, it’s just a matter of renewing it on time every year, which is quite hassle-free. Looking back at the simulated accident scenarios during driving lessons, I realized that without this insurance, the compensation pressure would be too overwhelming and could shake my confidence in driving. I’d advise young people to learn a bit about insurance before buying a car, rather than just focusing on the car’s appearance or performance. In short, keeping your CTI valid is a car owner’s responsibility—don’t take it lightly.

[Reagan]

From an auto insurance perspective, the only mandatory coverage is compulsory traffic insurance, which is required by the state for all vehicles. It provides coverage for third-party bodily injury, death, and property damage liabilities in traffic accidents. Without this insurance, vehicles cannot be driven on the road or pass annual inspections. The premium is fixed at 950 yuan per year for small passenger vehicles and can be purchased directly at insurance company branches or online platforms. It is recommended that vehicle owners keep a copy of the policy in the car and file claims promptly in the event of an accident.

[OCorey]

As a car owner, I place great importance on the mandatory compulsory traffic insurance because it protects public safety and reduces the losses of innocent victims in the event of a car accident. Without this insurance, even a minor accident could leave you facing hefty compensation or even criminal liability. The claim limit of compulsory insurance covers basic liabilities, ensuring social fairness. I've seen friends fined and inconvenienced for forgetting to renew their insurance, so developing a habit of setting annual phone reminders for purchase is crucial.

[MacCollin]

Economically speaking, compulsory traffic insurance is the only mandatory insurance for vehicles, with affordable annual fees of 950 yuan for small cars and transparent national pricing. Driving without it is illegal and may result in fines, costing more in the long run. Other commercial insurances like vehicle damage insurance are more expensive and optional, but compulsory insurance provides basic protection to avoid large unexpected expenses. When renewing, choose economical methods through apps to save time—don't overlook this small cost with significant benefits.