What are the three must-have car insurances?

[Wilson]

The three must-have car insurances are: 1. Compulsory Traffic Accident Liability Insurance; 2. Vehicle Damage Insurance; 3. Third-Party Liability Insurance. Compulsory Traffic Accident Liability Insurance is a mandatory requirement by the state and is essential for every vehicle on the road. Vehicle Damage Insurance primarily safeguards the property safety of the car. Third-Party Liability Insurance is used to protect the life or property safety of others. These three insurances are known as the three must-have car insurances. If the budget for purchasing car insurance is limited, these three insurances can maximize coverage. Car insurance is a type of property insurance. In the field of property insurance, car insurance is a relatively young category, as it emerged and developed alongside the appearance and popularization of automobiles. Unlike modern motor vehicle insurance, in the early stages of car insurance, Third-Party Liability Insurance was the main coverage, gradually expanding to include risks such as collision damage to the vehicle body.