What Types of Car Insurance Are Suitable to Purchase?
4 Answers
Generally, the main types of vehicle insurance that need to be purchased include compulsory traffic insurance and commercial insurance. Below is more information about car insurance: 1. Compulsory Traffic Insurance: Motor Vehicle Traffic Accident Liability Compulsory Insurance (abbreviated as compulsory traffic insurance). Compulsory traffic insurance is a mandatory liability insurance provided by insurance companies to compensate for bodily injury, death, and property losses of victims (excluding the vehicle's occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. Compulsory traffic insurance is a mandatory insurance implemented by national law, with premiums set at a unified national standard. 2. Commercial Insurance: Commercial insurance serves as a supplement to compulsory traffic insurance and mainly includes Third-Party Commercial Liability Insurance (abbreviated as third-party insurance), On-Board Liability Insurance (covering both the driver and passengers), Vehicle Damage Insurance, and Whole Vehicle Theft and Robbery Loss Insurance (abbreviated as theft insurance). 3. Other Insurances: Additionally, supplementary insurance types can be purchased based on individual or vehicle circumstances, such as Glass Breakage Insurance, Spontaneous Combustion Insurance, etc.
As a family car owner, I believe buying car insurance requires comprehensive consideration of safety. Compulsory traffic insurance is legally mandated, and everyone must have it. Third-party liability insurance is crucial, and it's better to have higher coverage in case of hitting someone else's car or person, so you won't be unable to afford compensation. Vehicle damage insurance is also necessary, as repairing scratches or dents yourself can be expensive, especially when parking. I also recommend adding a no-deductible insurance to make claims hassle-free. Passenger liability insurance is very practical, providing greater protection when traveling with family or friends. Theft insurance depends on the parking environment; if you park on the street often, it's advisable to add it. Glass breakage insurance is inexpensive and avoids extra costs during repairs. Water damage insurance depends on the region; areas with heavy rainfall in the south should consider it. In short, family travel safety comes first—don't take big risks to save small money.
I've been driving for years and always look for cost-effective solutions. Compulsory traffic insurance is a must, with no choice. Third-party liability insurance is the core, and it's recommended to have a moderate coverage, around 500,000, mainly to protect against compensation for hitting others. Vehicle damage insurance can be considered to skip, especially for older or low-value cars, as paying for repairs out of pocket might be more economical. Theft and glass insurance depend on the situation and can be ignored if parked in a safe place. Passenger liability insurance is unnecessary if you often drive alone. The no-deductible insurance can be added, as the premium is low and increases coverage. Water damage and spontaneous combustion insurance are usually not worth it unless in high-risk areas. A money-saving tip is to compare quotes from multiple insurance companies, as buying directly online offers big discounts. Insurance is about balancing cost and risk, with the key being to ensure basic protection.
As a new driver, I prefer keeping car insurance simple. Compulsory traffic insurance is the basic legal requirement. Third-party liability insurance is essential - with higher accident risks as a beginner, don't skimp on coverage limits. I recommend comprehensive insurance since new drivers often scratch cars and self-repairs are troublesome. No-claim bonus protection proves very practical by reducing deductibles. Passenger and theft insurance depend on habits - add them if often carrying family. Complex policies like water damage or spontaneous combustion coverage can wait. Remember to regularly check policy status to avoid expiration troubles. Adjust mindset before driving, practice skills gradually - while insurance is backup, safe driving remains key.
