What types of insurance are necessary for a family car?

[DeJudah]

Family cars require four types of insurance: compulsory traffic insurance, vehicle damage insurance, third-party liability insurance, and no-deductible insurance. Compulsory Traffic Insurance: As one of the legally mandated insurances, compulsory traffic insurance requires the insurance company to pay a certain amount to the involved party if any loss is caused to a third party, regardless of fault or the need for compensation. Vehicle Damage Insurance: Vehicle damage insurance is also typically necessary. For everyday issues like scratches, repair costs can be claimed from the insurance company. Especially in accidents where the at-fault party cannot be identified, the insurance company will cover 70% of the costs. Third-Party Liability Insurance: This type of insurance provides the most direct protection. In the event of an accident, whether the third party suffers injury, death, or property loss, the insurance company will compensate according to the corresponding amount. No-Deductible Insurance: In many accidents, insurance companies have a 5-20% deductible rate. However, if the car owner purchases this insurance, all liabilities and amounts will be fully transferred to the insurance company, allowing the owner to receive more compensation.