Which Insurance to Buy When Paying Full Price for a Car?
2 Answers
When paying full price for a car, you must purchase compulsory traffic insurance, vehicle damage insurance, and third-party liability insurance. Additionally, you can buy other insurances like spontaneous combustion insurance, vehicle theft insurance, and water damage insurance based on your needs. Below are some considerations when purchasing car insurance: 1. Purchase Channels: Pay attention to the purchase channel and choose an insurance company with legal qualifications and agents who have professional qualification certificates, practice licenses, and formal agency contracts with the insurance company. 2. Consider Your Needs: Choose insurance products based on your actual needs and fully understand the terms and conditions of motor vehicle insurance. 3. Important Documents: Pay attention to the use and safekeeping of important insurance documents, fulfill the obligation of truthful disclosure, pay insurance premiums on time, and agree with the insurance company on the method for resolving contract disputes.
Last year, I bought a new car with full payment and got quite confused when considering insurance. Initially, I only purchased compulsory traffic insurance, thinking that paying in full would be hassle-free. However, a friend’s accident woke me up. He had a minor collision, but the other party demanded high compensation, and his own car was damaged, making repairs costly—all because he didn’t have commercial insurance. Now, I recommend getting compulsory insurance as a must, then adding third-party liability insurance with higher coverage to cover potential claims if you hit someone. Adding vehicle damage insurance is suitable for new cars, as it covers accidental scratches and dents. The no-deductible insurance is even more convenient, avoiding out-of-pocket expenses. Paying in full gives you more freedom, but don’t skimp on these costs—otherwise, even a small accident can be a headache. I later added these coverages, paying around 2,000 yuan annually in premiums, and even saved a lot by comparing different insurance companies.
