What types of car insurance are generally purchased?
1 Answers
Car insurance types mainly include: compulsory traffic insurance; vehicle damage insurance; third-party liability insurance; and no-deductible insurance. Additionally, other car insurance types include comprehensive theft insurance, passenger liability insurance, scratch insurance, glass insurance, vehicle spontaneous combustion insurance, and water submersion insurance. Introduction to compulsory traffic insurance: The full name of compulsory traffic insurance is 'Compulsory Traffic Accident Liability Insurance for Motor Vehicles.' It is a mandatory liability insurance where the insurance company compensates for personal injuries, fatalities, and property losses (excluding the vehicle's occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. Necessity of compulsory traffic insurance: Compulsory traffic insurance ensures compensation for victims of motor vehicle road traffic accidents and promotes road traffic safety. It provides timely and basic protection for traffic accident victims.