What types of insurance are generally needed for a car?
1 Answers
Generally, the following types of car insurance should be purchased: Compulsory Traffic Insurance: Insurance required by national regulations. Vehicle Damage Insurance: After a traffic accident occurs, the insurance company will provide compensation within a reasonable range. Third-party Liability Insurance: If a motor vehicle is involved in a traffic accident causing personal injury, death, or direct property damage to a third party, the insurance company will cover the economic compensation liability within the legally stipulated range. No-fault Insurance: No-fault insurance is an additional coverage to vehicle damage or third-party liability insurance. By purchasing this insurance, the car owner can be exempted from liabilities that they would otherwise have to bear themselves in the event of a traffic accident, and can receive 100% compensation.