What Insurance Must Be Purchased for a Car?
1 Answers
In car insurance, compulsory traffic insurance is mandatory. Compulsory traffic insurance is a mandatory insurance system implemented by national law, and it must be purchased for vehicles to be driven on the road. Other recommended car insurances include vehicle damage insurance, third-party liability insurance, and no-deductible insurance. Below are the relevant introductions: 1. Third-party liability insurance: Since the compensation amount of compulsory traffic insurance is limited, purchasing third-party liability insurance can cover the portion that exceeds the compensation limit of compulsory traffic insurance. 2. No-deductible insurance: When compensation is required for an accident, the insurance company normally covers 80% of the loss. 3. Vehicle damage insurance: Vehicle damage insurance is a necessary coverage. Whether the car suffers from collisions, scratches, water damage, etc., it can receive compensation from the insurance company.