What Insurance Must Be Purchased for a New Car?
1 Answers
New cars must have compulsory traffic insurance. Below is a detailed introduction to car insurance: 1. Compulsory Traffic Insurance: Compulsory traffic insurance is a legal requirement that every car owner must purchase. It provides the most basic insurance claims when a traffic accident occurs. In the event of an accident, compulsory traffic insurance can help the car owner cover the economic compensation that would otherwise be difficult to pay. The compensation amount for compulsory traffic insurance is determined based on the car owner's proportion of responsibility in the accident and whether it caused personal injury or death. 2. Vehicle Damage Insurance: Vehicle damage insurance refers to situations where the insured or an authorized driver causes an insured accident while driving, resulting in damage to the insured vehicle. The insurance company will provide compensation within reasonable limits. The premium for vehicle damage insurance is closely related to the purchase price of the car and the number of seats. 3. Third-Party Liability Insurance: Third-party liability insurance covers situations where an accident causes personal injury, death, or direct property damage to a third party other than the driver and passengers of the insured vehicle. The insurance company will provide compensation according to regulations.
