What are the three main insurances generally purchased for small cars?
1 Answers
Small cars typically purchase compulsory traffic insurance, vehicle damage insurance, and third-party liability insurance. Below are detailed explanations: 1. Compulsory traffic insurance: This is a mandatory auto insurance required by the state. While other types of insurance may be optional, compulsory traffic insurance must be purchased by the car owner; otherwise, the vehicle is not permitted on the road. 2. Vehicle damage insurance: This insurance generally covers damage to either the owner's vehicle or the other party's vehicle in an accident. In most cases, car owners will opt for this coverage. 3. Third-party liability insurance: This insurance provides coverage for injuries to third parties or damage to their property. For example, if a traffic accident involves injuries to a third party, having this insurance ensures compensation.