What Types of Car Insurance Are Suitable to Purchase?
1 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.
