Which four types of car insurance should I buy?

[Fonseca]

Detailed introduction of the mandatory car insurance is as follows: 1. The four must-have car insurances. (1) Compulsory Traffic Insurance: This is a mandatory insurance stipulated by Chinese law, so all car owners must purchase it; (2) Third-party Liability Insurance: Mainly covers situations where your car accidentally collides with another vehicle, and the claim can be fully paid by the insurance company; (3) Vehicle Damage Insurance: This refers to a commercial car insurance where the insurer compensates within a reasonable range if the insured vehicle is damaged in an accident; (4) No-deductible Insurance: This is an additional insurance, an extra deduction based on third-party liability insurance. The purpose of this insurance is to transfer the responsibility that should be borne by the car owner to the insurance company. 2. The purpose of buying car insurance. The main purpose of car owners purchasing car insurance is to avoid risks, using a smaller premium to prevent greater economic losses. Buying car insurance can protect your vehicle from losses and also provide timely economic compensation in case you accidentally cause losses to others.