What Types of Car Insurance Should You Buy?
1 Answers
Car insurance is divided into: compulsory traffic insurance and commercial insurance. Compulsory traffic insurance is mandated by national law. Commercial insurance is purchased voluntarily based on the car owner's preference. Below is a detailed introduction to commercial vehicle insurance: 1. Vehicle Damage Insurance: Covers losses caused by natural disasters and accidents to the vehicle itself. Recommended for new drivers. 2. Third-Party Liability Insurance: Compensates for losses due to third-party injuries or fatalities caused by the car owner. This is a must-have for both personal and others' protection. 3. No-Fault Insurance: An add-on that transfers the car owner's liability to the insurance company, reducing personal losses. It's advisable to purchase this if you already have Vehicle Damage Insurance and Third-Party Liability Insurance. 4. Theft and Robbery Insurance: Covers damages caused by vehicle theft, robbery, or hijacking. Recommended for car owners without a garage. 5. Passenger Liability Insurance: Compensates for losses suffered by the driver and passengers due to traffic accidents. Premiums are usually paid per seat. Recommended for new drivers or family vehicles. 6. Spontaneous Combustion Insurance: Covers losses due to fires caused by vehicle electrical or wiring issues. Suitable for older vehicles. 7. Glass Breakage Insurance: Covers standalone breakage of windshield or window glass. Since glass replacement is expensive, it's recommended for vehicles frequently driven in unsafe areas. 8. Scratch Damage Insurance: Covers losses due to intentional, malicious, or accidental scratches on the vehicle body.
