What Does Compulsory Insurance for Small Cars Include?
2 Answers
Vehicle compulsory insurance, with its full name being Compulsory Traffic Accident Liability Insurance for Motor Vehicles, offers relatively extensive coverage. It mainly includes three aspects: compensation for personal death and disability, compensation for medical expenses, and compensation for property losses. The items covered by compulsory insurance are uniformly stipulated nationwide in terms of compensation scope and items. Below is additional information: 1. Compensation Scope: The items covered by compulsory insurance are uniformly stipulated nationwide in terms of compensation scope and items, as well as compensation limits, with no regional differences in compensation limits. It is important to note that although the coverage is broad and there are few exemption clauses, claims are only limited to the liability limits arising from traffic accidents. 2. Specific Scope: Specifically, compulsory insurance includes three aspects: According to Article 23 of the "Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles," a unified liability limit is implemented nationwide for compulsory traffic accident liability insurance for motor vehicles. The liability limits are divided into death and disability compensation limits, medical expense compensation limits, property loss compensation limits, and compensation limits for the insured who is not at fault in a road traffic accident.
I've been driving a car for over a decade. Compulsory insurance, known as traffic accident liability compulsory insurance, is mandatory by the state. It mainly covers compensation for injuries to others or damage to property in case of an accident. Specifically, what does it cover? Firstly, in case of injuries or fatalities, it covers medical expenses and disability compensation. Secondly, for property damage, such as hitting someone else's car or damaging public property, it also provides partial compensation. However, these compensations have limits. For instance, if you're at fault in an accident, the compensation is higher; if not at fault, it's lower, but the upper limit is fixed. If the actual damage exceeds this limit, you'll have to cover the extra costs yourself. I recommend not skimping on this insurance when buying a car. The premium isn't high, and you can renew it annually to protect yourself and others. Additionally, compulsory insurance is just the basics. I usually add commercial insurance for more comprehensive coverage, giving peace of mind in case of unexpected events. Remember, driving without compulsory insurance will result in fines. The real key is annual vehicle inspections and safe driving – fewer accidents make any insurance worthwhile.
