What Insurance Should You Buy for a Used Car?
1 Answers
The following are several recommended types of insurance to purchase: 1. Compulsory Traffic Insurance (CTI): According to China's traffic regulations, vehicles must pay an annual fee for CTI. If caught driving without CTI, you may face penalty points and fines. 2. Vehicle Damage Insurance: After purchasing this insurance, the owner does not need to bear the cost of vehicle repairs, making it crucial for the vehicle itself. This insurance covers accidental traffic incidents within its compensation scope. 3. Third-Party Liability Insurance: In the event of a traffic accident where you are primarily at fault, this insurance becomes extremely important. 4. No-Deductible Special Coverage: This type of insurance specifies an absolute deductible rate. In case of an accident where the owner is fully responsible, the maximum deductible rate is 20%.