What insurances are required when buying a car?

[DiAugust]

There are three mandatory insurances when purchasing a car: 1. Compulsory Traffic Insurance; 2. Third-party Liability Insurance; 3. Vehicle Damage Insurance. Below are introductions to these insurances: 1. Compulsory Traffic Insurance is a state-mandated insurance. If not purchased, traffic police can impose fines upon inspection. This insurance offers limited compensation, mainly covering others and not the policyholder's own vehicle; 2. Third-party Liability Insurance covers compensation for injuries or direct property damage to third parties (excluding the driver and passengers) in an accident, as stipulated by the insurance company. If the other party is fully at fault, the insurance company provides full compensation. If the policyholder is fully at fault, the insurance company has a 20% deductible; 3. Vehicle Damage Insurance compensates the policyholder. New drivers are prone to minor scrapes and scratches, and purchasing this insurance can help reduce personal losses.

[KaiAnn]

When I first bought my car, I spent a long time figuring out the insurance. Compulsory insurance is a must—it's required by law, and you can't even register your car without it, so don't skimp on this. I opted for a medium coverage amount for third-party liability insurance, as hitting someone or another car by accident could lead to unaffordable compensation. I also added car damage insurance—repairing scratches on a new car is expensive, and filing a claim saves hassle. Passenger liability insurance is essential to cover medical expenses for family or friends in case of an accident. Lastly, I chose a no-deductible add-on to reduce out-of-pocket costs. I also considered flood insurance, as urban areas are prone to waterlogging during rainy seasons. Overall, don’t just go for the cheapest option; pick a reputable company and choose premiums based on your budget and risk tolerance.

[McAlexa]

As a young professional with a tight car budget, insurance needs careful consideration. Compulsory insurance is a must—it's government-mandated and required for ownership transfer. Third-party liability insurance with minimum coverage suffices—lower payouts in accidents but significant premium savings. I skipped collision coverage, driving cautiously with an older car to save costs. Passenger insurance was also omitted due to low personal driving risk. Why spend extra? Compare premiums across providers—online quote tools make it easy. Always check policy expiration dates to avoid lapses and roadside inspection hassles. Save where possible, but never cut legal corners.

[Lincoln]

I'm the type who delves into the details of cars, and insurance choices are closely tied to maintenance. Compulsory insurance is entry-level and must be handled. It's better to have higher coverage for third-party liability insurance—urban road conditions are complex, and being unable to cover third-party injury damages is even more of a headache. Vehicle damage insurance plays a crucial role, as minor scratches can be quickly repaired with a claim. I added water ingress insurance because summer storms can make vehicle flooding repairs a hassle. Scratch insurance is optional but protects the car's aesthetics. Don't overlook no-deductible insurance, as it reduces out-of-pocket expenses and eases the claims process. An additional tip is to pay attention to changes in insurance rates—safe driving can lower premiums. Insurance isn't just an expense; it's an investment in protection.

[JosephAnn]

Long-term drivers emphasize the importance of comprehensive insurance. For those who commute frequently by car, compulsory insurance is a must. Third-party liability insurance is the top priority, with coverage maxed out to ensure compensation for injuries to pedestrians or property damage in case of an accident, avoiding legal troubles. Vehicle damage insurance provides backup for car repairs. Passenger liability insurance is beneficial for business trips, safeguarding colleagues. No-deductible insurance reduces out-of-pocket expenses. It's advisable to choose reputable companies for smoother claims processes. Additional theft insurance depends on parking conditions—worth it in chaotic neighborhoods. Overall, don't skimp on essential coverage.

[MacIsaac]

After years of driving and being fooled by insurance, I've learned some lessons. Compulsory insurance is a must—don't take chances. Make sure your third-party liability coverage is sufficient; hitting a luxury car without enough coverage can be financially devastating. For my new car, comprehensive insurance was worth every penny—I had no stress reporting my first accident for repairs. Adding passenger liability insurance is affordable and useful in case of accidents. The no-deductible option saves you from paying extra. Last time, my water damage insurance saved me from hefty repair bills during a heavy rainstorm. For new cars, it's wise to get comprehensive coverage, while older cars can skip some add-ons. Always consult experienced drivers around you—don't just rely on ads.