What Insurance Do You Need to Buy When Purchasing a Car?
2 Answers
When buying a car, the main insurances to purchase are compulsory traffic insurance, vehicle damage insurance, third-party liability insurance, and no-deductible insurance. Below are the specific details: 1. Compulsory Traffic Insurance: Mandatory purchase. 2. Vehicle Damage Insurance: Coverage includes damage to the vehicle caused by an insured accident. 3. Third-Party Liability Insurance: Coverage includes compensation for losses incurred by third parties. 4. No-Deductible Insurance: This is an additional insurance that primarily transfers the compensation amount you would otherwise bear to the insurance company. Below is related information: 1. Definition of Motor Vehicle Insurance: Motor vehicle insurance, also known as auto insurance (abbreviated as car insurance), refers to a commercial insurance that covers liability for personal injury or property damage caused by natural disasters or accidents involving motor vehicles. Motor vehicle insurance, or car insurance, is a type of transport insurance that covers the motor vehicle itself and its third-party liability, among other things. The insured clients are mainly legal entities and individuals who own various types of motor vehicles; the insured subjects are primarily various types of cars but also include specialized vehicles such as electric cars, battery-powered vehicles, and motorcycles. 2. Motor Vehicle Insurance Coverage: Motor vehicle insurance generally includes compulsory traffic insurance and commercial insurance, with commercial insurance divided into basic insurance and additional insurance. Basic insurance includes vehicle damage insurance, third-party liability insurance, full vehicle theft insurance (theft insurance), and onboard personnel liability insurance (driver liability insurance and passenger liability insurance). Compulsory Traffic Insurance, fully known as Compulsory Traffic Accident Liability Insurance for Motor Vehicles, is China's first mandatory insurance system implemented by national law.
When it comes to buying a car, insurance is a must. I think the most basic one is compulsory traffic insurance, which is legally required. In case you hit someone or another car, it can cover some of the losses. Vehicle damage insurance is also quite important—repairing your own car after a collision can be extremely expensive, and having insurance to reimburse the costs can save you a lot of hassle. Third-party liability insurance is best with higher coverage, otherwise, you might find yourself unable to afford compensation for even minor accidents, which could be troublesome. There’s also passenger liability insurance—if you often drive with family or friends, it’s worth considering their safety. It’s best to consult a reliable insurance company, as package deals can be more cost-effective. Don’t just go for the cheapest option and end up with the wrong coverage, making you nervous every time you drive.
