What types of insurance should be purchased for a vehicle?
1 Answers
Insurance that should be purchased for a car includes: 1. Compulsory Traffic Accident Liability Insurance: This is a mandatory insurance required by the state and must be purchased for all vehicles. 2. Third-party Commercial Liability Insurance: Since the compensation amount covered by compulsory insurance is limited, purchasing third-party insurance can provide compensation for the portion that exceeds the compulsory insurance coverage. 3. No-deductible Insurance: In the event of an accident requiring compensation, the insurance company normally covers 80% of the loss. 4. Vehicle Damage Insurance: Vehicle damage insurance is a necessary coverage that provides compensation from the insurance company for damages such as collisions, scratches, or water damage to the car.