What Types of Car Insurance Should You Generally Purchase?
1 Answers
Generally, the types of car insurance that need to be purchased include compulsory traffic insurance and commercial insurance. Here is more information about car insurance: 1. Compulsory Traffic Insurance: Compulsory Traffic Accident Liability Insurance for Motor Vehicles (abbreviated as compulsory traffic insurance). Compulsory traffic insurance is a mandatory liability insurance provided by insurance companies to compensate for personal injuries, deaths, 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 laws, with premiums set at a unified national rate. 2. Commercial Insurance: Commercial insurance supplements 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 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.
