Which Car Insurances Are Mandatory to Purchase
1 Answers
Generally, the vehicle insurances that need to be purchased for a car mainly include compulsory traffic insurance and commercial insurance. Below is more information about car insurance: 1. Compulsory Traffic Insurance: Motor Vehicle Traffic Accident Liability Compulsory Insurance (abbreviated as compulsory traffic insurance). Compulsory traffic insurance is a mandatory liability insurance where the insurance company compensates 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 law, with a unified national premium standard. 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, some supplementary insurances can be purchased based on individual or vehicle circumstances. For example: Stand-Alone Glass Breakage Insurance, Spontaneous Combustion Insurance, etc.
