What Insurance Should You Buy for a New Car?
2 Answers
For a new car, you should purchase compulsory traffic insurance, vehicle damage insurance, and no-deductible insurance. Here is more information about car insurance: 1. Introduction: Vehicle insurance, also known as motor vehicle insurance or simply car insurance, refers to a type of commercial insurance that covers liability for personal injury, death, or property damage caused by natural disasters or accidents involving motor vehicles. Car insurance is a form of property insurance and is relatively young in the field of property insurance, as it emerged and developed alongside the advent and popularization of automobiles. Unlike modern motor vehicle insurance, early car insurance primarily focused on third-party liability coverage and gradually expanded to include risks such as collision damage to the vehicle body. 2. Basic Functions: The fundamental functions of insurance, including organizing economic compensation and fulfilling insurance payouts, are also the basic functions of motor vehicle insurance.
When it comes to new car insurance, I prioritize cost-effectiveness. Compulsory traffic insurance is a must as it's required by law. Third-party liability insurance should have at least 2 million coverage – with so many luxury cars around nowadays, even a minor collision could be financially devastating. I also recommend getting vehicle damage insurance, especially for new drivers who are prone to scratches and dents, as it can save a lot on repair costs. Scratch insurance pairs well with new cars since they're most susceptible to stone chips in the first six months. If parking conditions are challenging, consider adding glass insurance and 'cannot find third party' special coverage. These extras might cost a few hundred more annually but offer great peace of mind. I've also opted for driver and passenger accident insurance – personal safety comes first. Premiums vary by region, so remember to compare quotes before purchasing.
