What are the mandatory insurances for vehicles?
3 Answers
Mandatory insurances for vehicles include compulsory traffic accident liability insurance, vehicle damage insurance, and third-party liability insurance. Compulsory Traffic Accident Liability Insurance: The full name of compulsory traffic accident liability insurance is "Compulsory Traffic Accident Liability Insurance for Motor Vehicles," which is China's first mandatory insurance system implemented by national law. Its premium is uniformly charged nationwide, as stipulated by the state. Vehicle Damage Insurance and Third-Party Liability Insurance: Vehicle damage insurance refers to a type of commercial auto insurance where the insurance company compensates within a reasonable range for damages to the insured vehicle caused by an insured accident while the vehicle is being used by the insured or an authorized driver. Vehicle damage insurance and third-party liability insurance are basic vehicle insurances, primarily covering the losses of the insured vehicle and the losses caused to third parties by the insured vehicle during use.
Hey, as a seasoned driver with over a decade of experience, I know the mandatory insurance for vehicles is compulsory traffic insurance, which is a national requirement. It covers liability compensation for third parties in accidents, such as injuries or property damage, providing a financial safety net. Driving without it is risky—getting caught by the police means fines, demerit points, and potential delays in annual inspections. Last year, my neighbor skipped the compulsory insurance and ended up paying over 20,000 yuan after a minor accident, which he deeply regretted. Although premiums vary by vehicle model, ranging from a few hundred to a thousand yuan annually, it’s definitely not worth skimping on. Many also opt for commercial insurance like vehicle damage or third-party liability coverage, but those are voluntary. Bottom line: get the compulsory insurance sorted before hitting the road—it’s the safest bet.
When I first bought my car, I specifically asked about which insurances were mandatory. The core one is compulsory traffic insurance, which is officially required—you can't avoid it. It specifically covers compensation for others in accidents, such as medical expenses if someone is injured. In reality, if you're caught without it, the fine is at least a couple thousand, and your car might even be impounded. A close friend of mine learned this the hard way—he saved a few hundred on premiums but ended up fined five thousand, a huge loss. The upside is that the premium isn't high, just a few hundred yuan for an average car. Others, like glass insurance, are purely optional—it's up to you. Personally, I feel this is like a threshold for road safety—you have to cross it to drive with peace of mind.
