What Insurance Must Be Purchased for a New Car?
1 Answers
New cars must purchase the following insurance: 1. Compulsory Traffic Insurance: This is mandatory by national regulations. Without it, the vehicle cannot legally be driven on the road. The main purpose of compulsory traffic insurance is to compensate the other party in the event of a traffic accident. Owners can also purchase it at the 4S store where they buy the car. 2. Non-Deductible Insurance: This is an additional insurance attached to other commercial insurance policies. Under normal circumstances, when the insured vehicle is involved in a traffic accident, the insurance company does not cover 100% of the compensation. Most commercial insurance policies have a deductible portion, typically ranging from 15% to 30%. If the owner does not purchase non-deductible insurance, they may need to bear the deductible portion themselves. 3. Vehicle Damage Insurance: This insurance primarily protects the owner's vehicle and is purchased based on the car's value. Generally, the higher the car's price, the higher the cost of vehicle damage insurance. 4. Third-Party Liability Insurance: Whether it's a new car or one that has been used for some time, it is recommended that owners purchase third-party liability insurance. This insurance is also used to compensate others. It is advisable to purchase third-party liability insurance with coverage between 200,000 and 500,000. In the event of an accident, compulsory traffic insurance is used first for compensation, and any amount exceeding that is covered by third-party liability insurance. 5. Scratch Insurance: It is recommended to purchase scratch insurance for new cars, especially for novice drivers who may inevitably experience minor scratches and bumps. Purchasing scratch insurance provides better protection.
