What Insurance Do Cars Need to Buy?

[VonMarcus]

You need to purchase compulsory traffic insurance and third-party liability insurance. Here are the relevant introductions: Introduction to Compulsory Traffic Insurance: The full name of compulsory traffic insurance is Motor Vehicle Traffic Accident Liability Compulsory Insurance. It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses (excluding the driver and passengers of the insured vehicle) caused by road traffic accidents involving the insured vehicle, within the liability limits. Introduction to Third-Party Liability Insurance: Third-party liability insurance is a type of liability insurance. It refers to the insurance where the insurer covers the financial compensation that the insured is legally or conventionally required to pay for personal injuries and property losses caused to a third party due to the insured's own faults or negligence.