What car insurance should be purchased?
2 Answers
Car insurance should include compulsory traffic insurance, third-party liability insurance, and no-deductible insurance. Below are the relevant introductions about vehicle insurance: 1. No-deductible insurance: Most auto insurance policies set different deductible rates based on accident liability. The insurance company does not compensate for this part. By purchasing no-deductible insurance, the part that needs to be compensated can be transferred back to the insurance company, thereby reducing the owner's loss. 2. Compulsory traffic insurance: The full name is 'Compulsory Traffic Accident Liability Insurance for Motor Vehicles'. Driving without compulsory traffic insurance is illegal. In the event of an accident causing loss to a third party, the owner can receive corresponding compensation.
Car insurance is like putting a protective coat on your beloved vehicle! The law mandates compulsory traffic insurance (CTPL), without which your car can’t legally hit the road—get caught by traffic police and you’ll face fines or even have your car impounded. CTPL mainly covers damages to others, like if you rear-end another car or hit a pedestrian, the insurer will compensate. But CTPL’s coverage is low, and with repair costs soaring these days, I strongly recommend topping up with commercial third-party liability insurance of at least 2 million yuan—so a scrape with a luxury car won’t bankrupt you. Comprehensive car damage insurance is also practical, covering hail damage to your new car or self-inflicted scratches on walls. Don’t just focus on price when buying insurance—big companies process claims faster, and online purchases often come with free car wash vouchers. Remember to renew your policy a month early each year for discounted premiums!
