What Insurance Must Be Purchased for a New Car?
2 Answers
New cars require the purchase of compulsory traffic insurance, vehicle damage insurance, third-party liability insurance, comprehensive theft insurance, and no-deductible insurance. Below is more related information: 1. Compulsory Traffic Insurance: Compulsory traffic insurance is a legally mandated insurance that every car owner must purchase. It effectively ensures basic insurance claims in the event of a traffic accident. After purchasing compulsory traffic insurance, a traffic compulsory insurance emblem will be issued to the car owner, which must be affixed to the front windshield of the car. Failure to comply may result in a 1-point deduction and a 200-yuan fine from traffic police. 2. Vehicle Damage Insurance: Vehicle damage insurance covers situations where the insured or an authorized driver causes damage to the insured vehicle during an accident, with the insurance company providing compensation within reasonable limits. 3. Third-Party Liability Insurance: Third-party liability insurance covers compensation for bodily injury or direct property damage to individuals other than the driver and passengers of the insured vehicle in an accident. For example, if a car accidentally hits an electric bike, the insurance company will cover the damage to the bike and any injuries to its rider. 4. Comprehensive Theft Insurance: As the name suggests, this insurance provides compensation for losses due to the theft or robbery of the entire vehicle. If the vehicle is stolen and not recovered within 60-90 days after being reported to the county-level or higher public security criminal investigation department, the insurance company will directly compensate the owner. 5. No-Deductible Insurance: The full name of no-deductible insurance is the 'No-Deductible Rate Special Clause,' which is a type of additional insurance. In many accident compensations, insurance companies may apply a 5%-20% deductible rate. By purchasing no-deductible insurance, the car owner can avoid these deductibles and receive full compensation.
I just got a new car and I'm super excited, but I also need to pay attention to insurance. Compulsory traffic insurance is a must for new cars—it's a basic legal requirement to cover the other party's losses in traffic accidents, and you can't even drive without it. Additional coverage like third-party liability insurance is essential, with a limit of at least 1 million yuan for peace of mind in case you hit someone. Collision insurance is highly recommended for new cars—repair costs can be steep, so don’t skimp on this. Theft and scratch coverage depend on your parking situation—add them if you park outdoors or in high-crime areas. Don’t forget no-deductible coverage to reduce out-of-pocket expenses. Compare prices on multiple websites when buying insurance—new cars have high first-year premiums, but don’t blindly trust dealership salespeople, as they often push unnecessary add-ons. Total costs may run into thousands, but proper protection is worth it.
