Which Car Insurances Should You Purchase?
1 Answers
Car insurances that should be purchased include compulsory traffic accident liability insurance, commercial third-party liability insurance, vehicle damage insurance, passenger liability insurance, and deductible waiver insurance. Compulsory traffic accident liability insurance is a mandatory insurance where the insurance company compensates for personal injuries, deaths, or property losses of victims caused by the insured motor vehicle in road traffic accidents within the liability limits. Commercial third-party liability insurance refers to the insurance that covers the financial liability the insured must bear by law for accidental incidents caused by the insured or their permitted legal drivers using the insured vehicle, resulting in bodily injuries, deaths, or direct property damage to a third party. Vehicle damage insurance is a type of commercial auto insurance where the insurance company compensates within reasonable limits for damages to the insured vehicle caused by accidents while the insured or their permitted driver is operating it. Passenger liability insurance primarily functions to compensate for injuries or deaths of passengers inside the vehicle caused by traffic accidents. Deductible waiver insurance refers to the deductible waiver clause in auto insurance, which is a type of commercial additional insurance.
