What Insurance Must Be Purchased for a Car Under Normal Circumstances?

[McIker]

Under normal circumstances, a car must be covered by commercial insurance and compulsory traffic insurance. Commercial insurance is purchased voluntarily by the car owner for commercial purposes, while compulsory traffic insurance is mandatory and required by the state. It is a compulsory liability insurance provided by insurance companies to compensate for personal injuries, deaths, and property losses of victims caused by road traffic accidents involving the insured vehicle, within the liability limits. Commercial insurance mainly includes vehicle damage insurance, third-party liability insurance, theft insurance, and passenger liability insurance. The full name of compulsory traffic insurance is 'Compulsory Traffic Accident Liability Insurance for Motor Vehicles,' and its characteristics are: 1. Mandatory; 2. Late payment penalties for unpaid premiums as required; 3. Uniformity of coverage standards.